Volume 17, Number 2, December 2022
| An Analysis of the Influencing Factors of the Number of Patent Applications in the United States |
Abstract
In this era of the knowledge economy, knowledge and technological innovation are two key determinants of national competitiveness. Patents showcase capabilities in technological innovation and are a way of protecting rewards for innovation activities. The number of patents indicates a country’s capabilities in technological innovation and drives its domestic economic development. This study examined those countries listed in the Global Competitiveness Report issued by the World Economic Forum in 2005. The numbers of patents applied by different countries to the United States Patent and Trademark Office (USPTO) were sampled for quantile regression modeling, in order to explore the influence of variables, such as distance between countries, GDP per capita, exports of individual countries, economic freedom, democratization, and information mobility. This study showed that GDP per capita and exports have a significant influence, and that economic freedom exhibits a significantly negative influence on the number of patents. Governments should enhance national economic development and manage economic freedom, in order to strengthen the capabilities in technological innovation.
Keywords: Patents, Quantile Regression, GDP Per Capita, Economic Freedom, Democratization
JEL Classification: E27, M50, K15