Patents and Research Tools in a Schumpeterian Growth Model with Sequential Innovation
AbstractIn the standard quality-ladder growth models, R&D firms undertake independent innovation processes to discover ideas whose value immediately transfers into tradeable applications. Here the standard multisector neo-Schumpeterian growth theory is extended by decomposing product innovation into a two-stage uncertain research activity. I compare the general equilibrium innovative performance of an economy where early-stages scientific results are patentable with the general equilibrium innovative performance with unpatentable basic ideas freely disseminated by public research institutions (universities). I show that the widely documented increasing complexity experienced in applied R&D magnifies the public basic R&D inefficiencies and suggests the patentability of research tools.
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Bibliographic InfoArticle provided by SIPI Spa in its journal Rivista di Politica Economica.
Volume (Year): 96 (2006)
Issue (Month): 6 (November-December)
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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
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
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