THE RELATIONSHIP BETWEEN INTELLECTUAL PROPERTY AND ECONOMIC GROWTH: A STUDY ON G8 COUNTRIES AND TURKEY

Abstract

Recently, economic freedoms and democracy have an important place in the literature as an important determinant of economic growth. It is thought that the legal guarantee of intellectual property rights within the institutional structure makes a significant contribution to economic growth. In this study, the effect of intellectual property rights protection on economic growth was investigated on the scale of G-8 countries and Turkey. In the study, panel data analysis was used and as a result of the analyzes, it was found that the random effects model was suitable for the dataset. The model was estimated by the Driscoll-Kraay robust standard estimator developed against deviations from the assumption. As a result of the analysis, it was concluded that intellectual property rights protection positively affects economic growth in all the examined countries.