Patents, Innovations and Economic Growth in Japan and South Korea: Evidence from Individual Country and Panel Data

8 Pages Posted: 2 Dec 2008

See all articles by Dipendra Sinha

Dipendra Sinha

Macquarie University, Australia; Ritsumeikan Asia Pacific University, Japan

Date Written: November 27, 2008

Abstract

This paper looks at the relationship between patents and economic growth in Japan and South Korea using both individual country and panel data. For the econometric estimation, we use annual data for 1963-2005. For Japan, we find that the logarithms of real GDP and the number of patents are cointegrated. For South Korea, we do find such evidence. For Japan, we find a two-way causality between the growth of real GDP and the growth of the number of patents. For panel data, we find that the logarithms of real GDP and the number of patents are cointegrated. We find some evidence that the growth of real GDP Granger causes the growth of the number of patents. However, we do not find any evidence of reverse causality.

Keywords: patents, panel cointegration, causality

JEL Classification: C22, C23, O31

Suggested Citation

Sinha, Dipendra and Sinha, Dipendra, Patents, Innovations and Economic Growth in Japan and South Korea: Evidence from Individual Country and Panel Data (November 27, 2008). Applied Econometrics and International Development, Vol. 8, No. 1, 2008, Available at SSRN: https://ssrn.com/abstract=1308261

Dipendra Sinha (Contact Author)

Ritsumeikan Asia Pacific University, Japan ( email )

Beppu
Oita
Japan
81-977-78-1214 (Phone)
81-977-78-1123 (Fax)

HOME PAGE: http://www.apu.ac.jp/~dsinha

Macquarie University, Australia ( email )

Department of Economics
Sydney NSW 2109
Australia
61-2-9850-9948 (Phone)
61-2-9850-8586 (Fax)

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