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Intellectual property rights protection and endogenous economic growth revisited

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  • Cysne, Rubens P.
  • Turchick, David

Abstract

We present an analytical solution to the lab-equipment R&D growth model with an exogenous rate of imitation and apply it to study the optimal level of intellectual property rights (IPR) protection. This has already been studied in Kwan and Lai (2003); however, a mistake in writing out the dynamics of the problem has contaminated that analysis. For the whole parameter space considered there, the conclusion is no longer to strengthen IPR protection partially, but fully (a result which we prove analytically for the logarithmic utility function). The usual tradeoff persists, though, for different choices of parameters.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Economic Dynamics and Control.

Volume (Year): 36 (2012)
Issue (Month): 6 ()
Pages: 851-861

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Handle: RePEc:eee:dyncon:v:36:y:2012:i:6:p:851-861

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Web page: http://www.elsevier.com/locate/jedc

Related research

Keywords: Intellectual property rights; Innovation; Lab equipment model; Patent protection; Growth;

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References

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  1. Ryo Horii & Tatsuro Iwaisako, 2007. "Economic Growth with Imperfect Protection of Intellectual Property Rights," Journal of Economics, Springer, vol. 90(1), pages 45-85, January.
  2. James Bessen & Eric Maskin, 2006. "Sequential Innovation, Patents, and Imitation," Economics Working Papers 0025, Institute for Advanced Study, School of Social Science.
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  4. Gould, David M. & Gruben, William C., 1996. "The role of intellectual property rights in economic growth," Journal of Development Economics, Elsevier, vol. 48(2), pages 323-350, March.
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  8. Luis A. Rivera-Batiz & Paul M. Romer, 1990. "Economic Integration and Endogenous Growth," NBER Working Papers 3528, National Bureau of Economic Research, Inc.
  9. Krugman, Paul, 1979. "A Model of Innovation, Technology Transfer, and the World Distribution of Income," Journal of Political Economy, University of Chicago Press, vol. 87(2), pages 253-66, April.
  10. Rod Falvey & Neil Foster & David Greenaway, 2006. "Intellectual Property Rights and Economic Growth," Review of Development Economics, Wiley Blackwell, vol. 10(4), pages 700-719, November.
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  13. Richard Gilbert & Carl Shapiro, 1990. "Optimal Patent Length and Breadth," RAND Journal of Economics, The RAND Corporation, vol. 21(1), pages 106-112, Spring.
  14. Horowitz, Andrew W & Lai, Edwin L-C, 1996. "Patent Length and the Rate of Innovation," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 37(4), pages 785-801, November.
  15. Maggie Xiaoyang Chen & Murat Iyigun, 2011. "Patent Protection and Strategic Delays in Technology Development: Implications for Economic Growth," Southern Economic Journal, Southern Economic Association, vol. 78(1), pages 211-232, July.
  16. Judd, Kenneth L, 1985. "On the Performance of Patents," Econometrica, Econometric Society, vol. 53(3), pages 567-85, May.
  17. Kwan, Yum K. & Lai, Edwin L. -C., 2003. "Intellectual property rights protection and endogenous economic growth," Journal of Economic Dynamics and Control, Elsevier, vol. 27(5), pages 853-873, March.
  18. Tandon, Pankaj, 1982. "Optimal Patents with Compulsory Licensing," Journal of Political Economy, University of Chicago Press, vol. 90(3), pages 470-86, June.
  19. Furukawa, Yuichi, 2007. "The protection of intellectual property rights and endogenous growth: Is stronger always better?," Journal of Economic Dynamics and Control, Elsevier, vol. 31(11), pages 3644-3670, November.
  20. Schneider, Patricia Higino, 2005. "International trade, economic growth and intellectual property rights: A panel data study of developed and developing countries," Journal of Development Economics, Elsevier, vol. 78(2), pages 529-547, December.
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Citations

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Cited by:
  1. Jacobo Campo Robledo, 2012. "Impacto de las Patentes sobre el crecimiento económico: Un modelo panel cointegrado," ESTUDIOS ECONÓMICOS SIC 010091, SUPERINTENDENCIA DE INDUSTRIA Y COMERCIO.
  2. Angus Chu & Guido Cozzi & Chih-Hsing Liao, 2013. "Endogenous fertility and human capital in a Schumpeterian growth model," Journal of Population Economics, Springer, vol. 26(1), pages 181-202, January.
  3. Cerqueti, Roy & Tramontanta, Fabio & Ventura, Marco, 2012. "On the dynamics of innovators and imitators," MPRA Paper 38949, University Library of Munich, Germany.

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