Patents and Research Tools in a Schumpeterian Growth Model with Sequential Innovation

Silvia Galli ()

Rivista di Politica Economica, 2006, vol. 96, issue 6, 63-104

Abstract: In the standard quality-ladder growth models, R&D firms undertake independent innovation processes to discover ideas whose value immediately transfers into tradeable applications. Here the standard multisector neo-Schumpeterian growth theory is extended by decomposing product innovation into a two-stage uncertain research activity. I compare the general equilibrium innovative performance of an economy where early-stages scientific results are patentable with the general equilibrium innovative performance with unpatentable basic ideas freely disseminated by public research institutions (universities). I show that the widely documented increasing complexity experienced in applied R&D magnifies the public basic R&D inefficiencies and suggests the patentability of research tools.

JEL-codes: O31 O34 O41 (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:rpo:ripoec:v:96:y:2006:i:6:p:63-104

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