Table 8 Estimation results with fixed effects-IV regression

Real GDP growth rate per capita (t − 1)

0.087*

− 0.081*

− 0.029

− 0.018

0.003

− 0.135*

− 0.160

− 0.100**

(0.045)

(0.044)

(0.052)

(0.038)

(0.078)

(0.069)

(0.107)

(0.046)

Log of real GDP per capita (t − 1)

− 0.586***

− 4.223***

− 2.721***

− 2.964***

− 0.692***

− 2.703***

− 1.474

− 3.505***

(0.116)

(0.665)

(0.848)

(0.795)

(0.160)

(0.661)

(1.232)

(0.863)

Log of AI patents per million people

0.222***

0.668***

0.535*

0.499*

–

–

–

–

(0.077)

(0.172)

(0.269)

(0.256)

–

–

–

–

Log of total patents per million people

–

–

–

–

0.217***

0.207**

0.177

0.536

–

–

–

–

(0.080)

(0.101)

(0.221)

(0.329)

Population growth rate

− 0.516***

− 0.614***

− 0.819***

− 0.563***

− 0.180

0.045

− 0.388

0.065

(0.131)

(0.076)

(0.218)

(0.194)

(0.162)

(0.305)

(0.350)

(0.269)

Gross capital formation growth rate (per capita)

0.220***

0.173***

0.196***

0.188***

0.155***

0.142***

0.132**

0.141***

(0.023)

(0.025)

(0.032)

(0.018)

(0.040)

(0.042)

(0.063)

(0.027)

Government expenditure growth rate (per capita)

0.291***

0.258***

0.309***

0.211***

0.262***

0.233***

0.347**

0.216***

(0.052)

(0.043)

(0.058)

(0.037)

(0.048)

(0.052)

(0.145)

(0.040)

Trade openness (5-year average)

0.003***

0.003

− 0.001

0.001

0.003**

0.004

− 0.002

0.011***

(0.001)

(0.003)

(0.008)

(0.003)

(0.001)

(0.003)

(0.011)

(0.004)

Human capital index growth rate

− 0.197

− 0.035

− 0.606

0.047

− 0.198

− 0.152

0.353

− 0.187

(0.121)

(0.129)

(0.428)

(0.180)

(0.215)

(0.236)

(0.743)

(0.193)

Inflation (5-year average)

− 0.038*

− 0.001

− 0.012

− 0.025

0.042

0.047

0.073

0.019

(0.020)

(0.021)

(0.051)

(0.020)

(0.031)

(0.031)

(0.080)

(0.025)

Advanced economy (dummy)

0.521

3.797***

2.134

1.945***

0.106

1.801

6.973

7.114***

(0.412)

(0.808)

(1.815)

(0.663)

(0.733)

(1.404)

(4.611)

(2.036)

Advanced x Log of AI patents per million people

− 0.120

− 0.743***

− 0.398

− 0.375***

–

–

–

–

(0.083)

(0.189)

(0.395)

(0.136)

–

–

–

–

Advanced x Log of total patents per million people

–

–

–

–

− 0.005

− 0.217

− 0.867

− 0.857***

–

–

–

–

(0.082)

(0.166)

(0.573)

(0.252)

Constant

5.592***

39.950***

26.250***

–

5.465***

24.110***

14.180

–

(0.892)

(6.257)

(7.434)

–

(1.106)

(6.117)

(10.780)

–

Time dummies

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Number of instruments

–

–

46

21

–

–

46

21

Sargan-Hansen overidentification test (p-value)

–

–

0.983

0.138

–

–

0.149

0.414

Kleibergen-Paap underidentification test (p-value)

–

–

–

0.000

–

–

–

0.000

Endogeneity test (for IV estimation, p-value)

–

–

–

0.605

–

–

–

0.000

N

258

258

258

326

692

692

692

836

n

65

65

65

65

135

135

135

135