"Ideas" driven growth: the OECD evidence

• Type: Article in International Scientific Journal
• Date: 2005

Authors

Argentino Pessoa (Author) FEP

Journal

Title: Portuguese Economic Journal

Vol. 4 No. 1

Pages: 46-67

ISSN: 1617-982X

Publisher: Springer Nature

Indexing

ISI Web of Knowledge - 28 Citations

Scopus - 35 Citations

Other information

Authenticus ID: P-000-2QY

DOI: 10.1007/s10258-005-0040-8

Abstract (EN): 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 to generate 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.

Language: English

Type (Professor's evaluation): Scientific

No. of pages: 22