Abstract
Purpose: The paper examines the potential effects of academic publications on patenting and the share of high technology exports. We test the short-run and the long-run causalities among high technology exports, the number of academic publications and the number of patents in three separate models.Methodology/Approach: Our sample consists of panel data for 61 countries and 20 years. The panel Granger causality and vector error correction model have been used in order to capture the short-run causalities. Furthermore, panel cointegration regressions have been applied to test for long-run causalities.Findings: Our results strongly suggest that there is a positive long-run effect of academic publications on both patenting and the share of high technology exports. This suggests that the outcomes of basic science in the form publications strongly support technological development, and thus emphasises the importance of basic research. In addition the effect of patents on high technology exports is mostly insignificant when controlling for academic publications and GDP.Research Limitation/implication: First, the variables used in the analysis are only proxies. The scope of the data has been significantly limited by the data availability. This leads also to limited the number of control variables.Originality/Value of paper: There are still only a very limited number of studies testing the effect of academic outcomes on the technological development of the economy. Our research brings new empirical insights into this problem.
Highlights
The technological development of the economy is mostly seen as one of the most important or even the most important determinant of sustainable economic growth
Our analysis has focused on supplementing our understanding in this area, by primarily focusing on testing the long-run as well as short-run effects arising from academic publications and patents on the share of high technology exports
It seems likely that there could be some sort of causality in the Granger sense between scientific articles and high-technology exports
Summary
The technological development of the economy is mostly seen as one of the most important or even the most important determinant of sustainable economic growth. As reported by Anselin, Varga and Acs (1997) the accumulation of knowledge and its spillover into productive capacity through technological change is a central theme in the new theory of endogenous growth They stated that universities play an important role in this process, in the role of producers of basic research, as well as by creating human capital. Their activities are governed by institutions, public sector institutions and this is one way governments can stimulate interaction between learning and knowledge transfer, leading to successful innovation It emphasises the role universities play in research, PhD and other training, and technology transfer (Mowery and Sampat, 2004). With a regional focus it emphasises the importance of spatial proximity, which is important with respect to tacit knowledge which requires face to face interactions (Asheim and Gertler, 2005)
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