Impacto de las patentes sobre el crecimiento económico: Un Modelo Panel Cointegrado [Impact of Patents on Economic Growth: A Cointegrated Panel Data Model]
This article presents an empirical model of non-stationary and cointegrated panel data to explain the impact of industrial property, measured by patents, on the GDP of 10 Latin America countries during the period 1990 to 2010. Apply traditional unit root tests and unit root test of art, which incorporates a structural break and the cross-sectional dependence, proposed by Hadri and Rao (2008). Through the Pedroni (1999, 2000, 2004) cointegration test proves the existence of a long-term relationship between variables and estimates the long-run elasticities. The results show the existence of a positive relationship between the level of innovation and GDP.
