Research Article

The Impact of Intellectual Property Payments and R&D on Economic Growth: A Panel Analysis on Highly Industrialized Countries

Volume: 6 Number: 4 December 31, 2024
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The Impact of Intellectual Property Payments and R&D on Economic Growth: A Panel Analysis on Highly Industrialized Countries

Abstract

Research and development (R&D) activities play a crucial role in facilitating economic growth. Numerous studies suggest that R&D activities have a positive influence on economic growth. However, according to endogenous growth models, the impact of research and development on growth is expected to diminish over time due to the principle of diminishing returns. This scenario implies that the significance of research and development activities in relation to economic growth warrants further examination. A robust connection exists between research and development and intellectual property rights. The safeguarding of intellectual property and information is vital for technological advancement. The evolution of information, technology, and patent systems heavily relies on investment in intellectual property. Considering these factors, a study was conducted to analyze the effects of R&D and intellectual property investments on economic growth within nine highly industrialized nations. This analysis utilized annual panel data spanning from 2004 to 2023. The findings of the study indicate that both research and development efforts, as well as expenditures on intellectual property, contribute positively to economic growth in these highly industrialized countries.

Keywords

Ethical Statement

This paper is a type of research that does not require ethics committee approval. This paper complies with Research and Publication Ethics

References

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Details

Primary Language

English

Subjects

Growth

Journal Section

Research Article

Publication Date

December 31, 2024

Submission Date

October 24, 2024

Acceptance Date

December 18, 2024

Published in Issue

Year 2024 Volume: 6 Number: 4

APA
Alpağut, S. (2024). The Impact of Intellectual Property Payments and R&D on Economic Growth: A Panel Analysis on Highly Industrialized Countries. International Journal of Business and Economic Studies, 6(4), 249-261. https://doi.org/10.54821/uiecd.1573013


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