Research on Hysteresis Effects of Authorized Patent on the Development of Regional Economy in Hunan Province

Abstract

This paper used Eviews6.0, the econometric software packages, to study the relationship between three kinds of authorized patents and the GDP changes of Hunan Province.  The experimental result demonstrated three facts: firstly, the fitting result of simple regression model effects better than that of multiple regression model; secondly, authorized inventive patent plays a more important role in boosting economic growth than utility model patent and design patent; thirdly, most of authorized patent had hysteresis effect, and as the duration of lag adds, effects on economics increases.