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Does Enforcement of Intellectual Property Rights Matter in China? Evidence from Financing and Investment Choices in the High-Tech Industry

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  • James S. Ang

    (Florida State University)

  • Yingmei Cheng

    (Florida State University)

  • Chaopeng Wu

    (Xiamen University)

Abstract

Using a unique and rich database of high-technology firms in China, we show that effective enforcement of intellectual property rights at the provincial level is critical in encouraging financing and investing in R&D. Better enforcement of intellectual property (IP) rights positively affects firms' ability to acquire new external debt and allows firms to invest in more R&D, generate more innovation patents, and produce more sales from new products. Our results suggest that facilitating financing and investing in R&D are the channels through which better IP rights enforcement can affect economic growth. © 2014 The President and Fellows of Harvard College and the Massachusetts Institute of Technology

Suggested Citation

  • James S. Ang & Yingmei Cheng & Chaopeng Wu, 2014. "Does Enforcement of Intellectual Property Rights Matter in China? Evidence from Financing and Investment Choices in the High-Tech Industry," The Review of Economics and Statistics, MIT Press, vol. 96(2), pages 332-348, May.
    • Handle: RePEc:tpr:restat:v:96:y:2014:i:2:p:332-348
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    Keywords

    intellectual property; R&D; technology; China;
    All these keywords.

    JEL classification:

    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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