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Knowledge Licensing in a Model of R&D-driven Endogenous Growth

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In this paper I present an endogenous growth model where the engine of growth is in-house R&D performed by high-tech firms. I model knowledge (patent) licensing among high-tech firms. I show that if there is knowledge licensing, high-tech firms innovate more and economic growth is higher than in cases when there are knowledge spillovers or there is no exchange of knowledge among high-tech firms. However, in case when there is knowledge licensing the number of high-tech firms is lower than in cases when there are knowledge spillovers or there is no exchange of knowledge.

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File URL: http://www.ub.edu/ubeconomics/wp-content/uploads/2014/01/304-Web.pdf
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Paper provided by Universitat de Barcelona, Facultat d'Economia i Empresa, UB Economics in its series UB Economics Working Papers with number 2014/304.

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Length: 78 pages
Date of creation: 2014
Handle: RePEc:ewp:wpaper:304web
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  3. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth through Creative Destruction," Econometrica, Econometric Society, vol. 60(2), pages 323-351, March.
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