An inverted-U effect of patents on economic growth in an overlapping generations model
Yuta Nakabo () and
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Yuta Nakabo: Faculty of Social Studies, Nara University
No 191, Discussion Paper Series from School of Economics, Kwansei Gakuin University
This paper analyzes how patent protection affects economic growth in a continuous-time overlapping generations model with lab-equipment type R&D-based growth. We show that increasing patent breadth may generate an inverted-U effect of patents on economic growth, an effect which is partly consistent with an empirically observed nonmonotonic relationship between patent protection and economic growth. This paper also shows that the combinations of heterogeneous households with finite lifetimes and the lab-equipment type R&D specification are relevant for deriving the inverted-U effect of patent protection on economic growth.
Keywords: Innovations; Patents; Overlapping Generations (search for similar items in EconPapers)
JEL-codes: O31 O34 O40 (search for similar items in EconPapers)
Pages: 28 pages
New Economics Papers: this item is included in nep-dge, nep-gro, nep-ino, nep-ipr, nep-knm and nep-sbm
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Persistent link: https://EconPapers.repec.org/RePEc:kgu:wpaper:191
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