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Accounting for the recent surge in U.S. patenting: changes in R&D expenditures, patent yields, and the high tech sector

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  • Jinyoung Kim
  • Gerald Marschke

Abstract

We decompose the recent patent increase into components representing (1) an increase in resources made available to research and development, (2) an across-the-board rise in the patent yield of an R&D dollar, and (3) changes in the patent yield in individual industries. Two high tech fields, computer hardware and pharmaceuticals, account for 22 percent of the patent increase. While these two industries had the fastest R&D growth among the industries we study, the pharmaceutical industry experienced a decline in its patent yield, limiting its patent growth. We show that increased R&D spending accounts for 70 percent of the patent increase. We discuss our results in the context of alternative hypotheses of the patent surge. We also compare our results to the anecdotal evidence of firm R&D performance at the industry level.

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Economics of Innovation and New Technology.

Volume (Year): 13 (2004)
Issue (Month): 6 ()
Pages: 543-558

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Handle: RePEc:taf:ecinnt:v:13:y:2004:i:6:p:543-558

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Related research

Keywords: Patents; Innovation; Technology and Research productivity;

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References

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  1. Lanjouw, Jean O & Lerner, Josh, 2001. "Tilting the Table? The Use of Preliminary Injunctions," Journal of Law and Economics, University of Chicago Press, University of Chicago Press, vol. 44(2), pages 573-603, October.
  2. Kortum, Samuel & Lerner, Josh, 1999. "What is behind the recent surge in patenting?1," Research Policy, Elsevier, Elsevier, vol. 28(1), pages 1-22, January.
  3. Wesley M Cohen & Richard R Nelson & John P Walsh, 2003. "Protecting Their Intellectual Assets: Appropriability Conditions and Why U.S. Manufacturing Firms Patent (Or Not)," Levine's Working Paper Archive 618897000000000624, David K. Levine.
  4. Bronwyn H. Hall and Adam Jaffe, and Manuel Trajtenberg., 2001. "Market Value and Patent Citations: A First Look," Economics Working Papers, University of California at Berkeley E01-304, University of California at Berkeley.
  5. Hall, B. & Jaffe, A. & Trajtenberg, M., 2001. "The NBER Patent Citations Data File: Lessons, Insights and Methodological Tools," Papers, Tel Aviv 2001-29, Tel Aviv.
  6. Bronwyn H. Hall & Zvi Griliches & Jerry A. Hausman, 1984. "Patents and R&D: Is There A Lag?," NBER Working Papers 1454, National Bureau of Economic Research, Inc.
  7. Jaffe, Adam B., 2000. "The U.S. patent system in transition: policy innovation and the innovation process," Research Policy, Elsevier, Elsevier, vol. 29(4-5), pages 531-557, April.
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Citations

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Cited by:
  1. Jinyoung Kim & Sangjoon John Lee & Gerald Marschke, 2009. "International Knowledge Flows: Evidence from an Inventor-Firm Matched Data Set," NBER Chapters, National Bureau of Economic Research, Inc, in: Science and Engineering Careers in the United States: An Analysis of Markets and Employment, pages 321-348 National Bureau of Economic Research, Inc.
  2. Bronwyn Hall, 2004. "Exploring the patent explosion," ESRC Centre for Business Research - Working Papers, ESRC Centre for Business Research wp291, ESRC Centre for Business Research.
  3. William R. Kerr, 2010. "The Agglomeration of U.S. Ethnic Inventors," NBER Chapters, National Bureau of Economic Research, Inc, in: Agglomeration Economics, pages 237-276 National Bureau of Economic Research, Inc.
  4. Hoenen, Sebastian & Kolympiris, Christos & Schoenmakers, Wilfred & Kalaitzandonakes, Nicholas, 2014. "The diminishing signaling value of patents between early rounds of venture capital financing," Research Policy, Elsevier, Elsevier, vol. 43(6), pages 956-989.
  5. Jérôme Danguy & Gaétan de Rassenfosse & Bruno van Pottelsberghe de la Potterie, 2013. "On the Origins of the Worldwide Surge in Patenting: An Industry Perspective on the R&D-Patent Relationship," Melbourne Institute Working Paper Series, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne wp2013n15, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.
  6. William R. Kerr, 2013. "Heterogeneous Technology Diffusion and Ricardian Trade Patterns," Harvard Business School Working Papers, Harvard Business School 14-039, Harvard Business School.
  7. Nemet, Gregory F., 2012. "Inter-technology knowledge spillovers for energy technologies," Energy Economics, Elsevier, Elsevier, vol. 34(5), pages 1259-1270.
  8. Godinho, Manuel Mira & Ferreira, Vítor, 2012. "Analyzing the evidence of an IPR take-off in China and India," Research Policy, Elsevier, Elsevier, vol. 41(3), pages 499-511.
  9. William R. Kerr, 2007. "The Ethnic Composition of US Inventors," Harvard Business School Working Papers, Harvard Business School 08-006, Harvard Business School.
  10. Vincent Wenxiong Yao, 2006. "Intra-industry spillovers and innovation: An econometric analysis at the firm level," Economics of Innovation and New Technology, Taylor & Francis Journals, Taylor & Francis Journals, vol. 15(2), pages 119-135.
  11. Seong-Sang Lee & Yeonbae Kim, 2009. "The Impact of Efficiency Parameters on Firms Innovative Activities: Evidence from Korean Firm-level data," TEMEP Discussion Papers, Seoul National University; Technology Management, Economics, and Policy Program (TEMEP) 200924, Seoul National University; Technology Management, Economics, and Policy Program (TEMEP), revised Nov 2009.
  12. repec:nbr:nberwo:15501 is not listed on IDEAS
  13. Carsten Fink & Mosahid Khan & Hao Zhou, 2013. "Exploring the worldwide patent surge," WIPO Economic Research Working Papers, World Intellectual Property Organization - Economics and Statistics Division 12, World Intellectual Property Organization - Economics and Statistics Division.

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