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Market size, institutions, and the value of rights provided by patents

  • Bas Straathof

    ()

  • Sander van Veldhuizen

    ()

Despite the centrality of incentives for innovation in models of economic growth, there is little systematic evidence that the value of technologies varies with market size and institutional arrangements. This paper presents micro-evidence indicating the value of patent rights for a given technology show substantial variation across countries. Read also the CPB Policy Brief 2012/05 'The value of a well-designed EU Patent' .A large part of this variation can be attributed to market size and institutional arrangements. We estimate the value of patent rights by exploiting the validation behavior of holders of European Patents granted in 2004. We control for unobserved patent and country characteristics. The mean value of patent rights across countries ranges from 17 thousand euro in Germany to 400 euro in Ireland. The mean value over 16 countries is 9 thousand euro per country. Protection of intellectual property rights and market size seem to explain most of the German advantage. The estimated total value of granted European Patents is 2.6 billion euro in 2004, of which a third are German patent rights.

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Paper provided by CPB Netherlands Bureau for Economic Policy Analysis in its series CPB Discussion Paper with number 226.

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Date of creation: Nov 2012
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Handle: RePEc:cpb:discus:226
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  1. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth through Creative Destruction," Econometrica, Econometric Society, vol. 60(2), pages 323-51, March.
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  4. Daniel K.N. Johnson, 2002. "The OECD Technology Concordance (OTC): Patents by Industry of Manufacture and Sector of Use," OECD Science, Technology and Industry Working Papers 2002/5, OECD Publishing.
  5. Harhoff, Dietmar & Hoisl, Karin & Reichl, Bettina & van Pottelsberghe de la Potterie, Bruno, 2009. "Patent validation at the country level--The role of fees and translation costs," Research Policy, Elsevier, vol. 38(9), pages 1423-1437, November.
  6. Park, Walter G., 2008. "International patent protection: 1960-2005," Research Policy, Elsevier, vol. 37(4), pages 761-766, May.
  7. Sullivan, Richard J, 1994. "Estimates of the Value of Patent Rights in Great Britain and Ireland, 1852-1876," Economica, London School of Economics and Political Science, vol. 61(241), pages 37-58, February.
  8. Alberto Galasso & Mark Schankerman, 2010. "Patent thickets, courts, and the market for innovation," RAND Journal of Economics, RAND Corporation, vol. 41(3), pages 472-503.
  9. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
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