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With the advent of globalization, economic and financial interactions among countries have become widespread. Given technological advancements, the factors of production can no longer be considered to be just labor and capital. In the pursuit of economic growth, every country has sensibly...
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intuitively and empirically appealing. This book investigates the impact of U.S.A. patent activity on technical change in 35 … industries given in the KLEM (Jorgenson, 1996) data set for the period 1958-1996. Four patent variables, namely total patent … applications, total patents granted, unsuccessful patent applications and foreign patents granted, are introduced as technology …
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