On the spillovers between patents and innovation in Japan

Jin Guo ()

Journal of Economics and Finance, 2015, vol. 39, issue 3, 590-605

Abstract: This article investigates the mean and variance spillovers between patent applications and total factor productivity (TFP) in Japan. First, we find a stationary cointegrating relationship between patent applications and TFP in the long run. This result suggests an increase in patent applications directly leads to an increase in innovation. Second, we also obtain evidence of significant bidirectional causality in mean and variance between patent applications and TFP. These finding indicates that there exists a bidirectional mean and volatility spillover effects between patents and innovations in the Japanese context. The results of our investigation can assist policymakers in taking decisions regarding the regulation of Japan’s patenting system. Copyright Springer Science+Business Media New York 2015

Keywords: Patenting system in Japan; Innovations; Total factor productivity; Cointegration; Mean and variance spillovers; O31; O34 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (2)

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DOI: 10.1007/s12197-014-9284-4

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