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The Relationship of Patenting Applications and Expenditure with Output and Real GDP in Nineteenth Century Colonial New Zealand

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The relationship between patenting and both output series and real GDP was examined using nineteenth century New Zealand patent applications, and applications weighted by fees and required advertising expenditure. For individual output series and real GDP there were considerably more cointegrating relationships with Granger causality for expenditure than for application counts, suggesting the expenditure data provides a better measure of the value of patents. Output series and real GDP usually led patenting, particularly using patent expenditure data, which indicates patentees were concentrating on economic needs. In some of the results, however, output series and real GDP followed patenting.

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  • Matthew Gibbons & Les Oxley, 2017. "The Relationship of Patenting Applications and Expenditure with Output and Real GDP in Nineteenth Century Colonial New Zealand," Working Papers in Economics 17/05, University of Waikato.
    • Handle: RePEc:wai:econwp:17/05
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    File URL: https://repec.its.waikato.ac.nz/wai/econwp/1705.pdf
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    More about this item

    Keywords

    bubbles; New Zealand patents; Granger causality; patent expenditure; GDP;
    All these keywords.

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • N17 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Africa; Oceania
    • N37 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - Africa; Oceania
    • N87 - Economic History - - Micro-Business History - - - Africa; Oceania

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