The Effect of Research and Development Investment on Patents
Author(s)
Ming, Thomas
Liu, Zhen
Palanivel, Tharangini
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Abstract
Economists today mostly assume that investment results in gains for that particular field. In this paper, we test for the effect investment in research and development (R&D) has on technological growth. We utilize cross sectional data from 2010 and test a variety of other factors including Gross Domestic
Product (GDP) per capita; average years of education; export volume into the United States; and the
Leamer Index, a measurement for natural resource abundance in a country. The results from the
experiment show that the R&D Expenditure has a significant effect on number of patents filed. In
addition, whether or not a country was developed was found to significantly influence the number of
patents filed. The various other variables including: average years of education, GDP per capita, and
the Leamer Index were found to be insignificant while the exports to the US were found to have a
significant effect on patents filed.
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Date
2014-12
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Text
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Undergraduate Research Paper