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IPR for Public and Private Innovations, and Growth

  • Luca, SPINESI

The empirical analyses show that public and private R&D are strongly intertwined. On the one hand, the existence of large direct spillovers from public R&D to private industry has extensively proven. Yet, both a substitutability and complementarity relationship between private and public R&D investment has been found. From an institutional point of view, to stimulate the technology transfer from public R&D to private industry to U.S. adopted an uniform patent policy for public funded research, such as that guaranteed by the Bayh-Dole Act. This paper contributes to explain this empirical evidence. Within a neo-Schumpeterian endogenous growth model, it is shown that the intellectual appropriation share of new commercial valuable idea by private firms and the subsidy of private R&D costs are two equivalent ways to stimulate private R&D effort, and they affect in the same way the endogenous per capita output growth rate. The existence of a trade off between the per capita output growth rate and level has found. The main policy implication of these results consists into guarantee two different regimes of IPR for industrial and public innovations. Furthermore, it is shown that the large direct spillovers from public R&D to private industry allows to have better growth performance even if public R&D investment crowds out private innovative effort. A gain a trade off between the per capita output growth rate and level has found.

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Paper provided by Université catholique de Louvain, Département des Sciences Economiques in its series Discussion Papers (ECON - Département des Sciences Economiques) with number 2007015.

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Length: 29
Date of creation: 01 Jul 2007
Date of revision:
Handle: RePEc:ctl:louvec:2007015
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  1. Segerstrom, Paul S, 1998. "Endogenous Growth without Scale Effects," American Economic Review, American Economic Association, vol. 88(5), pages 1290-1310, December.
  2. Philippe Aghion & Mathias Dewatripont & Jeremy C. Stein, 2008. "Academic freedom, private-sector focus, and the process of innovation," RAND Journal of Economics, RAND Corporation, vol. 39(3), pages 617-635.
  3. Aghion, P. & Howitt, P., 1990. "A Model Of Growth Through Creative Destruction," DELTA Working Papers 90-12, DELTA (Ecole normale supérieure).
  4. Peter Howitt, 2000. "Endogenous Growth and Cross-Country Income Differences," American Economic Review, American Economic Association, vol. 90(4), pages 829-846, September.
  5. Levy, David M., 1990. "Estimating the impact of government R&D," Economics Letters, Elsevier, vol. 32(2), pages 169-173, February.
  6. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
  7. Peter Howitt, 1999. "Steady Endogenous Growth with Population and R & D Inputs Growing," Journal of Political Economy, University of Chicago Press, vol. 107(4), pages 715-730, August.
  8. Paul A. David & Bronwyn H. Hall & Andrew A. Toole, 2000. "Is Public R&D a Complement or Substitute for Private R&D? A Review of the Econometric Evidence," Development and Comp Systems 9912002, EconWPA.
  9. O'Donoghue, Ted & Zweimüller, Josef, 1998. "Patents in a Model of Endogenous Growth," Economics Series 56, Institute for Advanced Studies.
  10. Narin, Francis & Hamilton, Kimberly S. & Olivastro, Dominic, 1997. "The increasing linkage between U.S. technology and public science," Research Policy, Elsevier, vol. 26(3), pages 317-330, October.
  11. Jones, Charles I., 2005. "Growth and Ideas," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 16, pages 1063-1111 Elsevier.
  12. Wesley M. Cohen & Richard R. Nelson & John P. Walsh, 2002. "Links and Impacts: The Influence of Public Research on Industrial R&D," Management Science, INFORMS, vol. 48(1), pages 1-23, January.
  13. McMillan, G. Steven & Narin, Francis & Deeds, David L., 2000. "An analysis of the critical role of public science in innovation: the case of biotechnology," Research Policy, Elsevier, vol. 29(1), pages 1-8, January.
  14. Stein, Jeremy C. & Dewatripont, Mathias & Aghion, Philippe, 2008. "Academic Freedom, Private-Sector Focus, and the Process of Innovation," Scholarly Articles 3637074, Harvard University Department of Economics.
  15. Cozzi Guido, 2007. "The Arrow Effect under Competitive R&D," The B.E. Journal of Macroeconomics, De Gruyter, vol. 7(1), pages 1-20, January.
  16. Jones, Charles I, 1995. "R&D-Based Models of Economic Growth," Journal of Political Economy, University of Chicago Press, vol. 103(4), pages 759-84, August.
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