Table 2 Definitions and source of the variables

ln (Ypc)

Natural log of real GDP (constant 2015 $) divided by working-age population (15–64) (MRW, 1992) used for growth-basic data source: The World Bank

ln (\({s}_{k}\))

Natural log of gross-fixed capital formation (constant 2015$) divided by GDP (constant 2015$) used for the investment rate-basic data source: The World Bank

ln (\({s}_{h}\))

Natural log of mean years of schooling used for human capital-basic data source: Barro-Lee data, Global_Data_Lab, and UNDP

ln (\({s}_{\tau }\))

Natural log of patent stocks calculated from triadic patent families (Ulku, 2004) used for technological innovation-basic data source: OECD data

ln (\(n+\delta\))

Natural log of working-age population growth (n) plus depreciation and technological growth rate (g + δ = 0.05) (MRW, 1992)-basic data source: The World Bank