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Knowledge Licensing in a Model of R&D-Driven Endogenous Growth

Vahagn Jerbeshian
Authors registered in the RePEc Author Service: Vahagn Jerbashian

CERGE-EI Working Papers from The Center for Economic Research and Graduate Education - Economics Institute, Prague

Abstract: I model knowledge (patent) licensing and evaluate intellectual property regulation in an endogenous growth framework where the engine of growth is in-house R&D performed by high-tech firms. I show that high-tech firms innovate more and economic growth is higher when there is knowledge licensing, and when intellectual property regulation facilitates excludability of knowledge, than when knowledge is not excludable and there are knowledge spillovers among high-tech firms. However, the number of high-tech firms is lower, and welfare is not necessarily higher, when there is knowledge licensing than when there are knowledge spillovers.

Keywords: knowledge licensing; in-house R&D; intellectual property regulation; endogenous growth; welfare (search for similar items in EconPapers)
JEL-codes: L16 L50 O31 O34 O41 (search for similar items in EconPapers)
Date: 2016-06
New Economics Papers: this item is included in nep-cse, nep-gro, nep-ino, nep-ipr, nep-knm, nep-sbm and nep-tid
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Related works:
Journal Article: Knowledge licensing in a model of R&D-driven endogenous growth (2016) Downloads
Working Paper: Knowledge Licensing in a Model of R&D-driven Endogenous Growth (2014) Downloads
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