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3
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98
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36
In this study, it was aimed to estimate the effect of research and develeopment (R&D) expenditures on number of patent applications using annual data from 1995 to 2013 for selected Economic Cooperation and Development Organization (OECD) countries. Accordingly Westerlund Panel Cointegration approach for the purpose of determining long run relationship among variables, Mean Group Estimator (MGE) and Pooled Mean Group Estimator (PMGE) methods with the aim of estimating long and short - run coefficients were used. The cointegration test illustrated that there was a long-run relationship between the variables. The effect of research and development expenditures on number of patent applications was found to be positive in the long run.
In this study, it was aimed to estimate the effect of research and development (R&D) expenditures on the number of patent applications using annual data from 1995 to 2013 for selected Economic Cooperation and Development Organization (OECD) countries. Accordingly Westerlund Panel Cointegration approach for the purpose of determining long run relationship among variables, Mean Group Estimator (MGE) and Pooled Mean Group Estimator (PMGE) methods with the purpose of estimating long and short run coefficients were used. The cointegration test illustrated that there was a long-run relationship between the variables. The effect of research and development expenditures on the number of patent applications was found to be positive in the long run.
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