Table 4 Period estimations results, 1970–1994

Real GDP growth rate per capita (t − 1)

0.159** (0.066)

0.122 (0.077)

0.223** (0.089)

− 0.156 (0.174)

0.055 (0.061)

− 0.189*** (0.067)

− 0.074* (0.042)

− 0.125 (0.118)

Log of real GDP per capita (t − 1)

− 0.291 (0.206)

− 0.535 (0.855)

− 0.377 (1.145)

− 1.333 (1.240)

− 0.352** (0.162)

− 4.796*** (1.096)

− 4.608*** (0.935)

− 4.141** (1.850)

Log of AI patents per million people

0.113 (0.118)

0.151 (0.130)

0.142 (0.156)

− 0.186 (0.252)

–

–

–

–

Log of total patents per million people

–

–

–

–

0.140** (0.066)

0.274* (0.155)

0.254** (0.129)

0.741*** (0.269)

Population growth rate

0.036 (0.190)

0.135 (0.310)

0.084 (0.283)

0.230 (0.991)

− 0.194 (0.266)

0.565 (0.504)

0.494 (0.337)

0.713 (0.762)

Gross capital formation growth rate (per capita)

0.228*** (0.023)

0.223*** (0.025)

0.237*** (0.019)

0.155*** (0.042)

0.185*** (0.029)

0.113*** (0.028)

0.120*** (0.018)

0.074 (0.104)

Government expenditure growth rate (per capita)

0.172*** (0.054)

0.146** (0.061)

0.156*** (0.055)

0.123 (0.150)

0.239*** (0.060)

0.189*** (0.067)

0.189*** (0.031)

0.069 (0.085)

Trade openness (5-year average)

0.004 (0.004)

− 0.002 (0.002)

− 0.002 (0.004)

0.002 (0.007)

0.005** (0.002)

0.005 (0.007)

0.005 (0.007)

− 0.007 (0.011)

Human capital index growth rate

0.301 (0.240)

− 0.142 (0.222)

− 0.162 (0.371)

0.325 (0.770)

0.238 (0.216)

− 0.152 (0.303)

− 0.199 (0.293)

− 0.049 (0.679)

Inflation (5-year average)

− 0.065*** (0.017)

− 0.057*** (0.019)

− 0.069*** (0.020)

− 0.036 (0.038)

− 0.005 (0.026)

0.023 (0.029)

0.017 (0.026)

0.075 (0.084)

Advanced economy (dummy)

0.318 (0.530)

–

–

7.091** (2.849)

− 1.14 (0.786)

− 1.157 (1.086)

− 1.667 (1.594)

− 3.105 (3.211)

Advanced x Log of AI patents per million people

− 0.007 (0.122)

0.059 (0.122)

0.037 (0.146)

0.392 (0.286)

–

–

–

–

Advanced x Log of total patents per million people

–

–

–

–

0.151* (0.091)

0.223 (0.187)

0.278 (0.254)

0.353 (0.466)

Constant

2.353 (1.666)

5.018 (8.030)

–

7.991 (10.972)

1.900 (1.428)

37.680*** (9.198)

–

30.000* (15.420)

Time dummies

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Number of instruments

–

–

–

31

–

–

–

33

Sargan-Hansen overidentification test (p-value)

–

–

–

0.542

–

–

–

0.155

AR(1) (p-value)

–

–

–

0.999

–

–

–

0.003

AR(2) (p-value)

–

–

–

0.178

–

–

–

0.326

N

158

158

158

158

428

428

428

428

n

61

61

61

61

123

123

123

123