Patent policy and economic growth: A survey
Patent policy and economic growth: A survey
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DOI:
10.1111/manc.12392
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发表时间:
2021-12
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影响因子:
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通讯作者:
A. Chu
中科院分区:
文献类型:
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作者:
A. Chu
This survey provides a selective review of the literature on patent policy, innovation and economic growth. The patent system is a useful policy tool for stimulating innovation given its importance on technological progress and economic growth. However, the patent system is a multi-dimensional system, which features multiple patent policy instruments. In this survey, we review some of the commonly discussed patent policy instruments, such as patent length, patent breadth and blocking patents, and also use a canonical Schumpeterian growth model to demonstrate their di⁄erent e⁄ects on innovation and the macroeconomy. to Yuichi Furukawa, Tatsuro Iwaisako, Christian Kiedaisch, Xilin Wang and Yibai Yang for helpful The author gratefully (cid:133)nancial support from the Asia-Paci(cid:133)c Academy of Economics and Management at the University of Macau. The usual disclaimer applies. To summarise, Romer showed that unregulated markets will produce technological change, but tend to underprovide R&D and the new goods created by it. Addressing this under-provision requires well-designed government interventions, such as R&D subsidies and patent regulation. His analysis says that such policies are vital to long-run growth, not just within a country but globally. It also provides guidelines for policy design: patent laws should strike the right balance between the motivation to create new ideas, by giving some monopoly rights to developers, and the ability of oth-ers to use them, by limiting these rights in time and space. Royal Swedish Academy of Sciences (2018)