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The Effects of Intellectual Property on Financial Integration in the European Union and Moldova Republic

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  • Emmanuel Obed DADZIE
  • Ionela Gabriela MATEI

Abstract

In order to encourage creative work and prevent possible abuses, the field of intellectual property must be well regulated; from a legislative point of view. This present era which is characterized by continuous technological progress is experiencing a boost in relevance of intellectual property; thereby becoming one of the key elements of industries. This has made players of markets to become aware of the need to ensure protection of intellectual property rights. Hence, financial integration is a key element which can be affected by intellectual property and the innovation process involved. This paper analyses the correlation between international financial integration and intellectual property. Also, the analysis focuses on European Union (EU) member countries and Moldova in assessing the effects of intellectual property and international financial integration. Fixed-effect panel estimation and the ordinary least squares model are used in the analysis.The analysis has been conducted over the last two decades to see the differences that intellectual property has had over financial integrationover periods of time that have had extremely different economic oscillations. The results of this research provide an update on the analysis effects of intellectual property on international financial integration and it shows a negative relationship between them. Hence, this depicts that when intellectual property is carefully considered by firms and governmental institutions, it can be a major source of revenue for the stakeholders and the economy at large.

Suggested Citation

  • Emmanuel Obed DADZIE & Ionela Gabriela MATEI, 2021. "The Effects of Intellectual Property on Financial Integration in the European Union and Moldova Republic," Eastern European Journal for Regional Studies (EEJRS), Center for Studies in European Integration (CSEI), Academy of Economic Studies of Moldova (ASEM), vol. 7(1), pages 70-91, June.
    • Handle: RePEc:aem:journl:v:7:y:2021:i:1:p:70-91
    DOI: https://doi.org/10.53486/2537-6179.7-1.04
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    References listed on IDEAS

    as
    1. Gancia, Gino & Bonfiglioli, Alessandra, 2008. "North-South trade and directed technical change," Journal of International Economics, Elsevier, vol. 76(2), pages 276-295, December.
    2. Philippe Aghion & Stephen Bond & Alexander Klemm & Ioana Marinescu, 2004. "Technology and Financial Structure: Are Innovative Firms Different?," Journal of the European Economic Association, MIT Press, vol. 2(2-3), pages 277-288, 04/05.
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    More about this item

    Keywords

    intellectual property; financial integration; development; trademarks; industrial design; patents.;
    All these keywords.

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital

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