Optimal patent policy, research joint ventures, and growth
AbstractThe patent-and-growth studies have found that there may be welfare loss without optimizing both patent breadth and the division of profit in competitive research joint ventures (NJs). This paper examines the effects of patent policy on an R&D-based growth model where innovations are produced by cooperative research joint ventures (CJs). We show that CJs always generate a higher equilibrium growth rate than NJs, and the social optimum can be achieved with CJs in equilibrium when only patent breadth is chosen optimally.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 118 (2013)
Issue (Month): 2 ()
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Web page: http://www.elsevier.com/locate/ecolet
Economic growth; Patent instruments; Research joint ventures;
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
- O38 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Government Policy
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