Lewis Davis and Fuat Sener, Union College

 

Lewis Davis and Fuat Sener, Union College

Sage 3205

September 26, 2008 4:00 PM - 5:30 PM

This paper investigates the determinants of growth in an endogenous Schumpeterian growth model in which the level of patent protection is determined endogenously by private expenditures on patent protection. Private enforcement of intellectual property rights deters imitation, which raises the expected return to innovation. However, it also increases the cost of innovators seeking to discover higher quality goods, which slows the rate of innovation. At the margin, the net effect of private patent protection on economic growth may be either positive or negative, with the balance depending inter alia on the strength of public property rights protection.

 

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