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Trade and intellectual property rights as channels for economic growth

Author

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  • Kai Wu
  • Hong Cai
  • Renai Jiang
  • Gary H. Jefferson

Abstract

This paper investigates two prominent potential drivers of long-run economic growth: a country's trade regime and its intellectual property rights (IPR) regime, as well as their interaction. We characterize the combination of these policy-driven regimes as a country's technology development regime. To test the importance of our specification of the technology regime, the paper derives a parsimonious model for testing their impact on the growth of living standards. The empirical analysis is conducted using a panel of 24 developed countries and 78 developing countries spanning 1980-2005. Our estimates highlight the importance of the technology development regime variables in driving the growth of gross domestic product per capita. In particular, the IPR regime stands out for its direct impact on growth and as a channel through which trade interacts to impact growth. The results support the view that a country's graduating into the ranks of higher income status may require that both IPR and trade regimes, particularly the former, be well developed.

Suggested Citation

  • Kai Wu & Hong Cai & Renai Jiang & Gary H. Jefferson, 2013. "Trade and intellectual property rights as channels for economic growth," Asia-Pacific Journal of Accounting & Economics, Taylor & Francis Journals, vol. 20(1), pages 20-36, March.
    • Handle: RePEc:taf:raaexx:v:20:y:2013:i:1:p:20-36
    DOI: 10.1080/16081625.2012.744709
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    References listed on IDEAS

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    1. Ricardo, David, 1821. "On the Principles of Political Economy and Taxation," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, edition 3, number ricardo1821.
    2. Slaughter, Matthew J, 1997. "Per Capita Income Convergence and the Role of International Trade," American Economic Review, American Economic Association, vol. 87(2), pages 194-199, May.
    3. Matthew J. Slaughter, 1997. "Per Capita Income Convergence and the Role of International Trade," NBER Working Papers 5897, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Fleisher, Belton M. & McGuire, William H. & Smith, Adam Nicholas & Zhou, Mi, 2013. "Intangible Knowledge Capital and Innovation in China," IZA Discussion Papers 7798, Institute of Labor Economics (IZA).

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