Patents, RandD subsidies and endogenous market structure in a Schumpeterian economy Report as inadecuate




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Abstract

This study explores the different implications of patent breadth and RandD subsidies on economic growth and endogenous market structure in a Schumpeterian growth model. We find that when the number of firms is fixed in the short run, patent breadth and RandD subsidies serve to increase economic growth as in previous studies. However, when the number of firms adjusts endogenously in the long run, RandD subsidies increase economic growth but decrease the number of firms, whereas patent breadth expands the number of firms but reduces economic growth. Therefore, RandD subsidy is perhaps a more suitable policy instrument than patent breadth for the purpose of stimulating long-run economic growth.



Item Type: MPRA Paper -

Original Title: Patents, RandD subsidies and endogenous market structure in a Schumpeterian economy-

Language: English-

Keywords: economic growth; endogenous market structure; patents; RandD subsidies-

Subjects: O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O30 - GeneralO - Economic Development, Innovation, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O40 - General-





Author: Chu, Angus C.

Source: https://mpra.ub.uni-muenchen.de/52927/







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