Implications of AI innovation on economic growth: a panel data study

Gonzales, Julius Tan

doi:10.1186/s40008-023-00307-w

Journal of Economic Structures

The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)

Table 12 List of variables

From: Implications of AI innovation on economic growth: a panel data study

Variable	Description	Source
Real GDP growth rate per capita	Five-year average of real GDP per capita growth rate (dependent variable)	UN National Accounts
Real GDP growth rate per capita (t − 1)^a	Lagged 5-year average of real GDP per capita growth rate	UN National Accounts
Log of real GDP per capita (t − 1)^a	Lagged log of the 5-year average of real GDP per capita (USD)	UN National Accounts
Log of AI patents per million people^a	Log ratio of the 5-year total number of AI patents per one million people in a 5-year average population	Google Patents
Log of total patents per million people^a	Log ratio of the 5-year total number of patents per one million people in a 5-year average population	Google Patents
Population growth rate^a	Five-year average of population growth rate	World Bank
Gross capital formation growth rate (per capita)^a	Five-year average of gross capital formation growth rate	UN National Accounts
Government expenditure growth rate (per capita)^a	Five-year average of government expenditure growth rate	UN National Accounts
Trade openness (5-year average)^a	Five-year average of trade volume (exports plus imports) ratio to GDP	World Bank
Human capital index growth rate^a	Five-year average of human capital index growth rate	Penn World Table
Inflation (5-year average)^a	Five-year average of inflation (using GDP deflator)	UN National Accounts
Internet users growth rate (5-year average)^b	Five-year average of Internet users growth rate	World Bank
Advanced economy (dummy)^a	1 for observations with 5-year average real GDP per capita exceeding USD 10,000; 0 otherwise	–
Advanced × Log of AI patents per million people^a	Interaction term between the advanced economy (dummy) and the log of AI patents per million people	–
Advanced × Log of total patents per million people^a	Interaction term between the advanced economy (dummy) and the log of total patents per million people	–
Log of cited non-patent literature^c	Log of the 5-year total number of cited non-patent literature	Google Patents
Advanced × Log of cited non-patent literature^c	Interaction term between the advanced economy (dummy) and the log of cited non-patent literature	–

^aThe lags of the listed variables are used in the GMM estimation. The number of lags may vary for each GMM estimation (a maximum of five lags is considered). All estimations use 5-year totals/averages of the variables except in the short-run analysis (see Table 9)
^bAdditional variable for robustness check (see Table 10)
^cFirst-stage instruments for the AI patents, total patents, and interaction terms in the FE-IV estimation (see Table 11, Table 12)

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