Human capital use, innovation, patent protection, and economic growth in multiple regions
Amitrajeet Batabyal and
Peter Nijkamp
Economics of Innovation and New Technology, 2013, vol. 22, issue 2, 113-126
Abstract:
We provide the first theoretical analysis of the effects of human capital use, innovative activity, and patent protection, on economic growth in a model with many regions. In each region, consumers have constant relative risk-aversion preferences, there is no human capital growth, and there are three kinds of manufacturing activities involving the production of blueprints for inputs (machines), the inputs themselves, and a single final consumption good. Our analysis generates four results. For any given region, we first describe the balanced growth path (BGP) equilibrium and show that the BGP growth rate depends negatively on the rate at which patents expire. Second, we characterize the transitional dynamics in our model. Third, we determine the value of the patent expiry rate that maximizes the equilibrium growth rate of a region. Finally, we show that a policy of offering perpetual patent protection does not necessarily maximize social welfare in a region.
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)
Downloads: (external link)
http://hdl.handle.net/10.1080/10438599.2012.715823 (text/html)
Access to full text is restricted to subscribers.
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:taf:ecinnt:v:22:y:2013:i:2:p:113-126
Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/GEIN20
DOI: 10.1080/10438599.2012.715823
Access Statistics for this article
Economics of Innovation and New Technology is currently edited by Professor Cristiano Antonelli
More articles in Economics of Innovation and New Technology from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().