Intellectual Property Rights, Human Capital and the Incidence Of R&D Expenditures
AbstractThe authors extend the model by Aghion and Howitt (1992) to highlight the role of intellectual-property-rights (IPRs) in the process of innovation and structural change. The model predicts, in contrast to existing literature, that lower risk-free discount rate increase imitation. The model suggests that the enforcement of IPRs and punishment of imitators has positive and differentiated effects on the level of R&D. It also predicts that human capital fosters the development of R&D activities. At the aggregate level, the model predicts that national R&D expenditures as a share of GDP will depend not only on the level of human capital and intellectual property rights, but that there are interactions between these two variables, and their effects on R&D might be follow unknown functional forms. The preponderance of the empirical evidence suggests that complex interactions between human capital and IPRs determine global patterns of R&D effort.
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Bibliographic InfoPaper provided by University of Chile, Department of Economics in its series Working Papers with number wp277.
Date of creation: Mar 2008
Date of revision:
Intellectual Property Rights; Development; Institutions.;
Other versions of this item:
- Bravo-Ortega, Claudio & Lederman, Daniel, 2010. "Intellectual property rights, human capital and the incidence of R&D expenditures," Policy Research Working Paper Series 5217, The World Bank.
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
- 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
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- Arusha Cooray & Antonio Paradiso, 2012. "The level and growth effects in empirical growth models for the Nordic countries: A knowledge economy approach," CAMA Working Papers 2012-36, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
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