Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/31742
Authors: 
Ács, Zoltán J.
Sanders, Mark
Year of Publication: 
2008
Series/Report no.: 
Jena economic research papers 2008,069
Abstract: 
We develop a model in which stronger protection of intellectual property rights has an inverted U-shaped effect on innovation. Intellectual property rights protection allows the incumbent firms to capture part of the rents of commercial exploration that would otherwise accrue to the entrepreneurs. Stronger patent protection will increase the incentive to do R&D and generate new knowledge. This has a positive impact on entrepreneurship and innovation. However, after some point, further strengthening patent protection will reduce the returns to entrepreneurship sufficiently to reduce overall economic growth.
Subjects: 
Intellectual property rights
endogenous growth
entrepreneurship
incentives
knowledge spillovers
rents
JEL: 
J24
L26
M13
O3
Document Type: 
Working Paper

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