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Knowledge licensing in a model of R&D-driven endogenous growth

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  • Jerbashian Vahagn

    (Departament d’Economia and CREB, Universitat de Barcelona and CERGE-EIa, 696 Diagonal Ave., Barcelona 08034, Spain, Phone: +34934034890)

Abstract

I model knowledge (patent) licensing and evaluate intellectual property regulation in an endogenous growth framework where the engine of growth is in-house R&D performed by high-tech firms. I show that high-tech firms innovate more and economic growth is higher when there is knowledge licensing, and when intellectual property regulation facilitates excludability of knowledge, than when knowledge is not excludable and there are knowledge spillovers among high-tech firms. However, the number of high-tech firms is lower, and welfare is not necessarily higher when there is knowledge licensing than when there are knowledge spillovers.

Suggested Citation

  • Jerbashian Vahagn, 2016. "Knowledge licensing in a model of R&D-driven endogenous growth," The B.E. Journal of Macroeconomics, De Gruyter, vol. 16(2), pages 555-579, June.
    • Handle: RePEc:bpj:bejmac:v:16:y:2016:i:2:p:555-579:n:10
    DOI: 10.1515/bejm-2015-0132
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    Cited by:

    1. Jerbashian, Vahagn, 2021. "Intellectual Property And Product Market Competition Regulations In A Model With Two R&D Performing Sectors," Macroeconomic Dynamics, Cambridge University Press, vol. 25(1), pages 59-80, January.
    2. Fernando Sánchez‐Losada, 2019. "How Important Are Scale Effects for Growth When Knowledge Is a Public Good?," Scandinavian Journal of Economics, Wiley Blackwell, vol. 121(2), pages 763-782, April.
    3. Vahagn Jerbashian & Anna Kochanova, 2016. "The impact of doing business regulations on investments in ICT," Empirical Economics, Springer, vol. 50(3), pages 991-1008, May.
    4. Jerbashian, Vahagn, 2015. "The telecommunications industry and economic growth: How the market structure matters," Economic Modelling, Elsevier, vol. 51(C), pages 515-523.
    5. Chang, Qing & Wu, Mengtao & Zhang, Longtian, 2024. "Endogenous growth and human capital accumulation in a data economy," Structural Change and Economic Dynamics, Elsevier, vol. 69(C), pages 298-312.

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    More about this item

    Keywords

    endogenous growth; in-house R&D; intellectual property regulation; knowledge licensing; welfare;
    All these keywords.

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital
    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
    • L50 - Industrial Organization - - Regulation and Industrial Policy - - - General
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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