Intellectual property rights protection in the presence of exhaustible resources
Takeo Hori () and
Hiroaki Yamagami ()
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Takeo Hori: Tokyo Institute of Technology
Hiroaki Yamagami: Seikei University
Environmental Economics and Policy Studies, 2018, vol. 20, issue 4, 759-784
Abstract We study the role of intellectual property rights (IPR) protection in the presence of exhaustible resources. Because resource scarcity is a constraint on growth, one may conjecture that IPR protection should be strong to stimulate research and development activities and to sustain perpetual growth. However, we show that IPR protection does not always need to be strengthened as the economy becomes more resource intensive. Furthermore, we derive the welfare-maximizing strength of IPR protection, and show that it increases in the presence of exhaustible resources. Therefore, our results suggest that ignoring exhaustible resources may result in inefficient innovation policies.
Keywords: Endogenous growth; Exhaustible resource; Innovation; Intellectual property rights protection; Patent breadth (search for similar items in EconPapers)
JEL-codes: O3 Q3 (search for similar items in EconPapers)
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