Professors Mauro Bambi and Sara Eugeni propose a hypothesis that connects patent-driven innovation with the global dominance of reserve currencies, particularly the US dollar. Their analysis of Patent Cooperation Treaty applications shows that as a country increases its share of PCT applications, the share of its currency held in global reserves also rises. Higher patenting activities appear to significantly influence central banks' decisions regarding currency reserves, indicating a relationship between innovation and currency strength on a global scale.
Professors Mauro Bambi and Sara Eugeni propose that patent-driven innovation significantly influences central banks' decisions to hold a particular currency as a reserve asset.
Their analysis of Patent Cooperation Treaty applications suggests a correlation between a country's patenting activities and the global dominance of its currency.
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