Influence of high-technology exports and foreign charges for the use of intellectual property on economic growth

The study aims to identify the interrelation between high-technology exports and the growth of national economies of European countries. Methodologically, the authors rely on the conceptual principles of the theory of economic inequality developed by Erik Reinert and the ideology of export-oriented growth. The main research hypothesis rests on the assumption that the possibility of participating in the export of high-tech goods and intellectual property is essential for the country to achieve a high economic level. Therefore, for countries with a lower level of economic development, there is a slight degree of correlation between the level of GDP and the studied indicators. The paper econometrically assesses the relationships between the gross domestic product, foreign charges for the use of intellectual property and high-technology exports. The information base of the research comprises the World Bank data for 38 European states for 1992–2016. The results of the study generally confirm the suggested hypothesis. Developed countries show a positive correlation of the gross domestic product growth from these factors, and in terms of importance, intellectual property exports prevail over these of high-tech products. Within the countries of catching-up development the research registers ambiguous dependencies. The authors point out the complexity of interpretation of the indicator of the amount of charges for the use intellectual property arising from the implicit differentiation of income from domestic intellectual developments and developments used in assembly operations. The obtained results can be used to study the trends and trajectories of economic growth in highly developed, developing and temporarily lagging countries.