Effects of Patents on the Industrial Revolution

Angus Chu, Zonglai Kou and Xilin Wang

MPRA Paper from University Library of Munich, Germany

Abstract: This study provides a growth-theoretic analysis on the effects of intellectual property rights on the endogenous takeoff of an economy. We incorporate patent protection into a Schumpeterian growth model in which takeoff occurs when the population size crosses an endogenous threshold. We find that strengthening patent protection has contrasting effects on economic growth at different stages of the economy. Specifically, it leads to an earlier takeoff (i.e., an earlier industrial revolution) but also reduces economic growth in the long run.

Keywords: intellectual property rights; endogenous takeoff; innovation; economic growt (search for similar items in EconPapers)
JEL-codes: O31 O34 (search for similar items in EconPapers)
Date: 2019-01
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https://mpra.ub.uni-muenchen.de/91819/1/MPRA_paper_91819.pdf original version (application/pdf)
https://mpra.ub.uni-muenchen.de/94239/1/MPRA_paper_94239.pdf revised version (application/pdf)
https://mpra.ub.uni-muenchen.de/95525/1/MPRA_paper_95525.pdf revised version (application/pdf)

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