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Should the Government Protect its Basic Research?

Guido Cozzi () and Silvia Galli ()

MPRA Paper from University Library of Munich, Germany

Abstract: Basic research is mainly performed publicly. Yet in the US public research findings were not patentable until 1980, and in other countries are not yet patentable. Patentability renders public research more directed, with less potential waste, but it also restricts private applied research. This paper shows, by means of a multi-stage Schumpeterian growth model, that in the long run the first effect is bound to dominate.

Keywords: R&D and Growth; Sequential Innovation; Public R&D; Patent Laws; Bayh-Dole Act. (search for similar items in EconPapers)
JEL-codes: H4 O3 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ino, nep-ipr and nep-pbe
Date: 2017-06
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