Table 3 Main estimation results

Real GDP growth rate per capita (t − 1)

0.037 (0.037)

0.024 (0.028)

0.063** (0.028)

0.034 (0.057)

0.025 (0.047)

− 0.069 (0.048)

− 0.025 (0.027)

− 0.054 (0.061)

Log of real GDP per capita ( t − 1)

− 0.437** (0.202)

− 1.865*** (0.455)

− 1.672*** (0.450)

− 1.593*** (0.570)

− 0.414*** (0.103)

− 2.284*** (0.422)

− 2.042*** (0.391)

− 0.602 (0.904)

Log of AI patents per million people

0.178*** (0.067)

0.264*** (0.078)

0.246*** (0.089)

0.275* (0.152)

–

–

–

–

Log of total patents per million people

–

–

–

–

0.172*** (0.048)

0.131* (0.071)

0.124* (0.069)

0.197 (0.177)

Population growth rate

− 0.462*** (0.154)

− 0.371* (0.210)

− 0.391*** (0.107)

0.085 (0.361)

− 0.206* (0.120)

0.043 (0.232)

0.034 (0.115)

− 0.724 (0.532)

Gross capital formation growth rate (per capita)

0.164*** (0.043)

0.162*** (0.045)

0.166*** (0.011)

0.149*** (0.047)

0.173*** (0.023)

0.145*** (0.022)

0.148*** (0.012)

0.224*** (0.062)

Government expenditure growth rate (per capita)

0.268*** (0.048)

0.262*** (0.049)

0.259*** (0.026)

0.335** (0.169)

0.244*** (0.041)

0.210*** (0.043)

0.209*** (0.021)

0.538*** (0.165)

Trade openness (5-year average)

0.004** (0.002)

0.004** (0.002)

0.004* (0.002)

0.009*** (0.003)

0.004*** (0.001)

0.006** (0.003)

0.005* (0.003)

0.006 (0.009)

Human capital index growth rate

− 0.045 (0.150)

0.005 (0.146)

0.008 (0.162)

− 0.028 (0.269)

0.028 (0.138)

0.004 (0.138)

0.000 (0.223)

0.992 (0.674)

Inflation (5-year average)

− 0.001 (0.023)

− 0.007 (0.023)

− 0.013 (0.019)

− 0.039 (0.031)

0.010 (0.019)

0.012 (0.018)

0.007 (0.020)

0.038 (0.138)

Advanced economy (dummy)

− 0.196 (0.334)

0.223 (0.326)

0.125 (0.461)

0.505 (0.519)

− 0.457 (0.619)

1.421* (0.771)

1.177 (1.120)

− 0.146 (3.005)

Advanced x Log of AI patents per million people

− 0.032 (0.061)

− 0.096 (0.081)

− 0.082 (0.094)

− 0.227* (0.129)

–

–

–

–

Advanced x Log of total patents per million people

–

–

–

–

0.026 (0.069)

− 0.196** (0.098)

− 0.170 (0.129)

0.020 (0.358)

Constant

4.224*** (1.636)

17.210*** (4.324)

–

14.172** (5.487)

3.238*** (0.820)

19.710*** (3.786)

–

4.106 (8.366)

Time dummies

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Number of instruments

–

–

–

65

–

–

–

32

Sargan-Hansen test (p-value)

–

–

–

0.426

–

–

–

0.581

AR(1) (p-value)

–

–

–

0.001

–

–

–

0.000

AR(2) (p-value)

–

–

–

0.661

–

–

–

0.257

N

616

616

616

616

1140

1140

1140

1140

n

122

122

122

122

144

144

144

144