Status Preference and the Effects of Patent Protection: Theory and Evidence

Shiyuan Pan, Mengbo Zhang and Heng-Fu Zou ()
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Mengbo Zhang: School of Economics, Zhejiang University

No 588, CEMA Working Papers from China Economics and Management Academy, Central University of Finance and Economics

Abstract: We build a growth model with status preference to explore the effects of patent protection on innovation and social welfare. The main results are as follows. There exists a non-monotonic relationship between patent protection and innovation, and the growth-rate-maximizing degree of patent protection decreases with the strength of status preference. Moreover, the effect of patent protection on social welfare is ambiguous, depending on the strength of status preference. Finally, a cross-section regression based on a cross-country dataset is employed to investigate the empirical evidence of our theory. A significantly non-monotonic relationship between patent protection and economic growth is found when the status preference is considered.

Keywords: Patent Protection; Status Preference; Innovation; Social Welfare (search for similar items in EconPapers)
JEL-codes: O31 O34 O40 (search for similar items in EconPapers)
Pages: 39 pages
Date: 2011
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Related works:
Journal Article: STATUS PREFERENCE AND THE EFFECTS OF PATENT PROTECTION: THEORY AND EVIDENCE (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:cuf:wpaper:588

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