Abstract
This paper re-examines the empirical regularity of convergence in gross state product (GSP) per capita across US states. Patent data for the 48 continental United States and the District of Columbia, from the US Patent and Trademark Office, is used to account for innovation and technology differences across states. It is found that patents are an important variable in explaining state to state differences in growth. This implies technology gaps exist across states. Knowledge and technology appear to display some characteristics of private goods. Furthermore, the estimated time it takes for convergence to occur is reduced by 25% when differences in innovative activity are accounted for.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
