Secrecy, the patent puzzle and endogenous growth

• Published in: European economic review Vol. 126; p. 103445
• Main Author: Klein, Michael A.
• Format: Journal Article
• Language: English
• Published: Elsevier B.V 01.07.2020
• Subjects: Endogenous growth; Innovation; Intellectual property rights; O34; Innovation; Intellectual property rights; O31; Endogenous growth; O43
• ISSN: 0014-2921; 1873-572X
• DOI: 10.1016/j.euroecorev.2020.103445

Endogenous growth models typically assume that innovations are protected solely by patents. Consequently, they predict that strengthening patent protection stimulates innovation by increasing the private return to R&D. This contrasts with empirical evidence that: (1) firms routinely employ a com...