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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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File URL: http://www.rivistapoliticaeconomica.it/2006/nov_dic/pdf/Galli_eng.pdf
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Bibliographic Info

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. Jaffe Adam B. & Lerner Josh, 2006. "Innovation and Its Discontents," Capitalism and Society, De Gruyter, vol. 1(3), pages 1-36, December.
  2. Cozzi, Guido & Galli, Silvia, 2007. "Changing the Research Patenting Regime: Schumpeterian Explanation," MPRA Paper 16823, University Library of Munich, Germany.
  3. Vincenzo Denicolo, 2007. "Do patents over-compensate innovators?," Economic Policy, CEPR & CES & MSH, vol. 22, pages 679-729, October.
  4. 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.
  5. Paul Romer, 1991. "Endogenous Technological Change," NBER Working Papers 3210, National Bureau of Economic Research, Inc.
  6. Grossman, G.M. & Helpman, E., 1989. "Quality Ledders In The Theory Of Growth," Papers 148, Princeton, Woodrow Wilson School - Public and International Affairs.
  7. O'Donoghue, Ted & Zweimüller, Josef, 1998. "Patents in a Model of Endogenous Growth," Economics Series 56, Institute for Advanced Studies.
  8. Ashish Arora & Marco Ceccagnoli, 2006. "Patent Protection, Complementary Assets, and Firms' Incentives for Technology Licensing," Management Science, INFORMS, vol. 52(2), pages 293-308, February.
  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. 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.
  11. 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.
  12. 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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