Ideas driven growth: the OECD evidence

Argentino Pessoa

FEP Working Papers from Universidade do Porto, Faculdade de Economia do Porto

Abstract: This paper estimates the parameters of the ideas production function crucial to recent ideas-driven growth models. Using U. S. patents granted to residents in OECD countries in order to construct the stock of commercially used ideas, we provide evidence for two main findings. First, at the level of the production of ideas, we find evidence of increasing returns to scale in the stock of ideas and number of researchers, but marginal decreasing returns in each one of these factors. Second, we provide evidence of the association between ideas growth and economic growth, for the OECD as a whole, in the long run.

Keywords: Innovation; spillovers; ideas-driven growth; patents; public intervention (search for similar items in EconPapers)
Pages: 24 pages
Date: 2003-12
New Economics Papers: this item is included in nep-dev
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Citations: View citations in EconPapers (1)

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Related works:
Journal Article: “Ideas” driven growth: the OECD evidence (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:por:fepwps:136

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