Analysis of the Growth in the Number of Patents Granted and Its Effect over the Level of Growth of the Countries: An Econometric Estimation of the Mixed Model Approach

Abstract

The purpose of this paper is to identify and measure the impact of the variables affecting the increase in the number of patents as a way to advance the development of policies in countries in terms of sustainable development based on innovation. An econometric estimation of a mixed model was used to measure the impact of patent development on the countries analyzed in this research. The findings suggest that economies that have some relevance in research and development have increasing numbers of patents. Thus, the empirical findings relate to the theoretical models that state that comparative advantages may be dynamic due to technological innovation. Finally, this paper shows that innovation is a central parameter to engage in research and develop a knowledge-based economy.