Table 12. The effect of academic freedom (AF) on innovation output (patent applications) with a de jure metric of AF.
| 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: de jure | 0.520 | (0.060)*** | ||||||||
| AF: de jure (IV: Democracyt-5, z) | 2.885 | (0.402)*** | ||||||||
| AF: de jure (IV: Democracy stockt-10, z) | 2.849 | (0.390)*** | ||||||||
| AF: de jure (IV: AFt-5) | 0.628 | (0.086)*** | ||||||||
| AF: de jure (IV: AF stockt-10) | 0.611 | (0.086)*** | ||||||||
| Controls | ||||||||||
| Year/country dummies | Yes | Yes | Yes | Yes | Yes | |||||
| Countries (observations) | 156 | (10,269) | 155 | (9,883) | 154 | (9,474) | 155 | (9,145) | 154 | (7,941) |
| R2 (R2 adjusted) | 0.825 | (0.820) | 0.794 | (0.788) | 0.798 | (0.792) | 0.832 | (0.827) | 0.839 | (0.834) |
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.