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Patents and Research Tools in a Schumpeterian Growth Model with Sequential Innovation

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  • Silvia Galli

    ()
    (University of Rome "La Sapienza")

Abstract

In 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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Article provided by SIPI Spa in its journal Rivista di Politica Economica.

Volume (Year): 96 (2006)
Issue (Month): 6 (November-December)
Pages: 63-104

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Handle: RePEc:rpo:ripoec:v:96:y:2006:i:6:p:63-104

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  1. Paul M Romer, 1999. "Endogenous Technological Change," Levine's Working Paper Archive 2135, David K. Levine.
  2. Roger E. A. Farmer, 1999. "Macroeconomics of Self-fulfilling Prophecies, 2nd Edition," MIT Press Books, The MIT Press, edition 2, volume 1, number 0262062038, December.
  3. Cozzi, Guido & Galli, Silvia, 2007. "Changing the Research Patenting Regime: Schumpeterian Explanation," MPRA Paper 16823, University Library of Munich, Germany.
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  7. Vincenzo Denicolo, 2007. "Do patents over-compensate innovators?," Economic Policy, CEPR & CES & MSH, vol. 22, pages 679-729, October.
  8. Grossman, Gene M & Helpman, Elhanan, 1991. "Quality Ladders in the Theory of Growth," Review of Economic Studies, Wiley Blackwell, vol. 58(1), pages 43-61, January.
  9. Cozzi, Guido, 2007. "Self-fulfilling prophecies in the quality ladders economy," Journal of Development Economics, Elsevier, vol. 84(1), pages 445-464, September.
  10. Suzanne Scotchmer, 1991. "Standing on the Shoulders of Giants: Cumulative Research and the Patent Law," Journal of Economic Perspectives, American Economic Association, vol. 5(1), pages 29-41, Winter.
  11. Kenneth Arrow, 1962. "Economic Welfare and the Allocation of Resources for Invention," NBER Chapters, in: The Rate and Direction of Inventive Activity: Economic and Social Factors, pages 609-626 National Bureau of Economic Research, Inc.
  12. Segerstrom, Paul S, 1998. "Endogenous Growth without Scale Effects," American Economic Review, American Economic Association, vol. 88(5), pages 1290-1310, December.
  13. Marie Thursby & Richard Jensen, 2001. "Proofs and Prototypes for Sale: The Licensing of University Inventions," American Economic Review, American Economic Association, vol. 91(1), pages 240-259, March.
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