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Education and Invention

descriptionPublicationkeyboard_double_arrow_right Article , Preprint 01 May 2016Publisher:MIT Press - JournalsJournal:Review of Economics and Statistics, volume 98, pages 382-396 (issn: 0034-6535, eissn: 1530-9142,

Authors: Väänänen; Lotta; Toivanen, Otto;

doi: 10.1162/rest_a_00520

Education and Invention

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Abstract

Abstract Modern growth theory puts invention on the center stage. Inventions are created by individuals, raising the question of whether we can increase the number of inventors. To answer this question, we study the causal effect of MSc engineering education on invention, using data on U.S. patents’ Finnish inventors and the distance to the nearest technical university as an instrument. We find a positive effect of engineering education on the propensity to patent and a negative OLS bias. Our counterfactual calculation suggests that establishing three new technical universities resulted in a 20% increase in the number of USPTO patents by Finnish inventors.

Related Organizations

KU Leuven
Belgium
Katholieke Universiteit Leuven
Belgium

Keywords

ability bias; citations; education; engineers; growth; innovation; invention; inventors; patents, ta511, jel: jel:J24, jel: jel:O31, jel: jel:I21

Impact byBIP!

	citations This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).	75
	popularity This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.	Top 1%
	influence This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).	Top 10%
	impulse This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.	Top 10%