Intellectual property rights protection and endogenous economic growth revisited
AbstractWe 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 InfoArticle provided by Elsevier in its journal Journal of Economic Dynamics and Control.
Volume (Year): 36 (2012)
Issue (Month): 6 ()
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Intellectual property rights; Innovation; Lab equipment model; Patent protection; Growth;
Find related papers by JEL classification:
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
- O34 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital
- O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
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