Table 10. The effect of academic freedom (AF) on innovation output (patent applications) when only considering years after 1980.
| Model | (1) | (2) | (3) | (4) | (5) | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Dependent variable | Patent applicationst+2 (ln) | Patent applicationst+2 (ln) | Patent applicationst+2 (ln) | Patent applicationst+2 (ln) | Patent applicationst+2 (ln) | |||||
| Statistic | Coeff. | (SE) | Coeff. | (SE) | Coeff. | (SE) | Coeff. | (SE) | Coeff. | (SE) |
| Independent variables | ||||||||||
| AF (z) | 0.311 | (0.060)*** | ||||||||
| AF (IV: Democracyt-5, z) | 0.626 | (0.105)*** | ||||||||
| AF (IV: Democracy stockt-10, z) | 0.682 | (0.096)*** | ||||||||
| AF (IV: AFt-5, z) | 0.578 | (0.083)*** | ||||||||
| AF (IV: AF stockt-10, z) | 0.567 | (0.079)*** | ||||||||
| Controls | ||||||||||
| Year/country dummies | Yes | Yes | Yes | Yes | Yes | |||||
| Countries (observations) | 157 | (5,190) | 157 | (5,042) | 157 | (4,924) | 157 | (5,046) | 156 | (4,892) |
| R2 (R2 adjusted) | 0.919 | (0.916) | 0.920 | (0.917) | 0.920 | (0.917) | 0.920 | (0.917) | 0.921 | (0.917) |
Notes: The estimates are obtained from pooled OLS regressions. All variables are described in Table 1. Robust standard errors in parentheses.
* p < 0.10
** p < 0.05
*** p < 0.01.