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A patentability requirement and industries targeted by R&D

Keiichi Kishi

No 14-27, Discussion Papers in Economics and Business from Osaka University, Graduate School of Economics

Abstract: In this paper, we introduce into a Schumpeterian growth model an inventive step: a minimum innovation size required for patents, which is a patentability requirement. We show that each R&D firm targets only the industries that the incumbent fs technology is sufficiently obsolete in order to satisfy an inventive step requirement. This is because a technological gap between innovator and incumbent is larger in the industries that use older technology. Under the circumstance, strengthening an inventive step requirement reduces the industries targeted by R&D, on the other hand, increases R&D investments to the targeted industries. Consequently, we find a nonmonotonic effect of the inventive step on the aggregate flow of innovations.

Keywords: Technological progress; Innovations; Intellectual property rights (search for similar items in EconPapers)
JEL-codes: O31 O34 O41 (search for similar items in EconPapers)
Pages: 16 pages
Date: 2014-07
New Economics Papers: this item is included in nep-cse, nep-ino, nep-ipr, nep-pr~, nep-knm and nep-sbm
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Working Paper: A patentability requirement and industries targeted by R&D (2014)
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