Endogenous growth without patents

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dc.contributor.author Bandyopadhyay, Debasis en
dc.contributor.author Binning, A en
dc.date.accessioned 2017-07-25T01:45:01Z en
dc.date.issued 2016-01-30 en
dc.identifier.citation 30 Jan 2016. Social Science Research Network. 53 pages en
dc.identifier.uri http://hdl.handle.net/2292/34488 en
dc.description.abstract This paper constructs an analytically tractable model of endogenous innovation with a special focus on the effects of barriers to entry, namely patents. Conventional models of endogenous growth rely on the existence and enforcement of intellectual property rights with patents. Those legal rights are seen as necessary evils, required to encourage innovation by ensuring successful innovators are rewarded with monopoly rents. This paper takes a different approach. By integrating Aghion, Harris, and Vickers (1997) and the Boldrin and Levine (2003) framework into a conventional vintage capital growth model such as Greenwood, et al (1997), the paper characterizes economic conditions under which patents may decrease the growth rate. The model is calibrated to the US economy to match its long run time series of GDP per hour. Simulations of that calibrated model provide important insights regarding growth-promoting policies. The model also provides an explicit numerical algorithm to measure cross-country differences in total factor productivity due to barriers to technology adoption. en
dc.publisher Social Science Research Network en
dc.rights Items in ResearchSpace are protected by copyright, with all rights reserved, unless otherwise indicated. Previously published items are made available in accordance with the copyright policy of the publisher. Details obtained from http://www.ssrn.com/en/index.cfm/ssrn-faq/#ssrn_copyright en
dc.rights.uri https://researchspace.auckland.ac.nz/docs/uoa-docs/rights.htm en
dc.subject Embodied Technology en
dc.subject Monopoly Rents from Innovation en
dc.subject Cost of Copying and Cost of Patents en
dc.title Endogenous growth without patents en
dc.type Report en
dc.description.version Preprint en
dc.rights.holder Copyright: The authors en
pubs.author-url https://ssrn.com/abstract=2960827 en
dc.rights.accessrights http://purl.org/eprint/accessRights/OpenAccess en
pubs.subtype Working Paper en
pubs.elements-id 623862 en
pubs.org-id Business and Economics en
pubs.org-id Economics en
pubs.record-created-at-source-date 2017-04-30 en

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