The effect of innovation on economic growth in the BRICS countries using Panel Data estimation

The aim of the study is to find out how innovation affects economic growth in BRICS countries. World Bank 2021 Development Indicators database, covering period from 2000 2019, was used collect data. There are three ways quantify innovation: research and development, patents, trademarks. This looked at GDP countries responds hit Stationarity tests conducted using panel unit-roots. For study, authors both multiple regression for each country data estimates suggest several compelling factors economies examine development innovation, especially trademarks, as a potential opportunity accelerate growth. Furthermore, found that overall impact trademarks on significant growing rapidly among economies, demonstrating contributes significantly results this show important drivers and, therefore, region.