QUANTITATIVE ANALYSIS OF BIOTECHNOLOGY PATENTS NEXUS TO NATIONAL ECONOMIES AND POLICIES
DOI:
https://doi.org/10.5937/Rev2090007SKeywords:
biotechnology industry, patents, economic growth, policiesAbstract
This paper deals with the impact of biotechnology patents on national economic growth. Biotechnology was selected as one of the highest growing industries oriented to field of R&D. It was noted that upward trend of growth of biotechnology industry is also related to industry dispersion in terms of different areas of R&D. Existing literature has connected patents with national economies in terms of overall inventive activity and broader use of new technology in scope of national economies considering relevancy for policy changes. Research results of regression analysis shown significant impact of biotechnology patents on Economic growth. Results were interpreted in a way to implicate requirements for further policies adaptation.
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