Green patents as a determinant of sustainable economic growth

Abstract

In order to establish sustainable economic growth, governments around the world are increasingly introducing programs to support the environmental aspects of companies' business as part of their policies. In order to meet the demands of the market, and at the same time contribute to the realization of the principle of sustainability, companies increasingly invest in research and development and eco-innovation. The number of green patents is often used as a parameter of the intensity of eco-innovation. The question is how the possession of green patents affects the performance of companies and the economic growth of the national economies in which they operate. The subject of this paper is to consider the impact of green patents on the economic growth of national economies that are leading in the number of applied green patents. The aim of this paper is to determine the relationship between the selected indicators of green patents and the gross domestic product of these national economies.