Privatization of Knowledge: Did the U.S. Get It Right?
AbstractBrilliant ideas are key to economic growth. They often emerge from scientific discoveries with no immediate commercial value - so rewards may not be aligned to effort. Should basic research be publicly or privately funded? And, to foster innovation and growth, what kinds of discovery should be protected? Post 1980, the US intellectual property institutions facilitated the patentability of basic research. The European and other patenting regimes are slowly changing in the same direction, also encouraged by TRIPs. Did the US choose the better path? We build a Schumpeterian model to re-assess this important turning point.
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Bibliographic InfoPaper provided by Business School - Economics, University of Glasgow in its series Working Papers with number 2008_01.
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R&D and Growth; Sequential Innovation; Research Tools; Patent Laws; Kremer Mechanism;
Other versions of this item:
- Cozzi, Guido & Galli, Silvia, 2013. "Privatization of Knowledge: Did the U.S. Get It Right?," Economics Working Paper Series 1307, University of St. Gallen, School of Economics and Political Science.
- 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 Rights
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-01-19 (All new papers)
- NEP-HRM-2008-01-19 (Human Capital & Human Resource Management)
- NEP-INO-2008-01-19 (Innovation)
- NEP-IPR-2008-01-19 (Intellectual Property Rights)
- NEP-KNM-2008-01-19 (Knowledge Management & Knowledge Economy)
- NEP-MIC-2008-01-19 (Microeconomics)
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