Financially Constrained Innovation, Patent Protection, and Industry Dynamics

Javier Suarez and Gerard Llobet

No 102, 2008 Meeting Papers from Society for Economic Dynamics

Abstract: We find that the protection against subsequent innovators is counterproductive for innovation and welfare, while some (generally not full) protection against imitation is good in both dimensions. We also find that the net welfare gains from increasing IP protection are increasing with the tightness of financial constraints.

Date: 2008
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