scholarly journals A Patent System for Both Diffusion and Exclusion

1991 ◽  
Vol 5 (1) ◽  
pp. 43-60 ◽  
Author(s):  
Janusz A Ordover
Keyword(s):  
Economic Growth ◽  
Technological Progress ◽  
Patent Protection ◽  
Analytical Framework ◽  
Patent Law ◽  
Dynamic Efficiency ◽  
Long Run ◽  
Public Policy Analysis ◽  
Patent Laws ◽  
Social Concerns

Public policy analysis of optimal patent regimes is often framed as a tradeoff between static and dynamic efficiency. In this analytical framework, weak patent protection and strict antitrust policy are taken to be directed toward static concerns, while protection of intellectual property through strong patent laws is taken as a reflection of broader social concerns for long-run growth and technological progress. This characterization has some truth, but the magnitude of the conflict between static and dynamic efficiency, can easily be exaggerated. In this article, I want to argue that weak patent protection need not be inimical to economic growth and, conversely, that strong patent protection need not be an enemy of diffusion. Appropriately structured patent law and antitrust rules can together ensure incentives for R&D and also induce cooperation among firms in diffusing R&D results through licensing and other means. At the same time, cooperation among firms at the R&D stage can counterbalance weak patent protection by internalizing spillovers from ongoing R&D programs, and such cooperation may also produce additional spillovers from the existing knowledge.

The Influence of TRIPS Compliant Patent Laws on Indian Pharmaceutical Industry

2014 ◽  
Vol 4 (1) ◽  
Author(s):  
Rupesh Rastogi ◽  
Virendra Kumar
Keyword(s):  
Pharmaceutical Industry ◽  
Patent Protection ◽  
Uruguay Round ◽  
Pharmaceutical Products ◽  
Trips Agreement ◽  
Patent Law ◽  
Patent Laws ◽  
The Impact ◽  
First Time ◽  
Indian Pharmaceutical Industry

The first legislation in India relating to patents was the Act VI of 1856. The Indian Patents and Design Act, 1911 (Act II of 1911) replaced all the previous Acts. The Act brought patent administration under the management of Controller of Patents for the first time. After Independence, it was felt that the Indian Patents & Designs Act, 1911 was not fulfilling its objective. Various comities were constituted to recommend, framing a patent law which can fulfill the requirement of Indian Industry and people. The Indian Patent Act of 1970 was enacted to achieve the above objectives. The major provisions of the act, provided for process, not the product patents in food, medicines, chemicals with a term of 14 years and 5-7 for chemicals and drugs. The Act enabled Indian citizens to access cheapest medicines in the world and paved a way for exponential growth of Indian Pharmaceutical Industry. TRIPS agreement, which is one of the important results of the Uruguay Round, mandated strong patent protection, especially for pharmaceutical products, thereby allowing the patenting of NCEs, compounds and processes. India is thereby required to meet the minimum standards under the TRIPS Agreement in relation to patents and the pharmaceutical industry. India’s patent legislation must now include provisions for availability of patents for both pharmaceutical products and processes inventions. The present paper examines the impact of change in Indian Patent law on Pharmaceutical Industry.

scholarly journals Effects of patents on the transition from stagnation to growth

2019 ◽  
Vol 33 (2) ◽  
pp. 395-411 ◽  
Author(s):  
Angus C. Chu ◽  
Zonglai Kou ◽  
Xilin Wang
Keyword(s):  
Economic Growth ◽  
Intellectual Property ◽  
Property Rights ◽  
Population Size ◽  
Intellectual Property Rights ◽  
Growth Model ◽  
Patent Protection ◽  
Theoretic Analysis ◽  
Schumpeterian Growth ◽  
Long Run

Abstract This study provides a growth-theoretic analysis of the effects of intellectual property rights on the take-off of an economy from an era of stagnation to a state of sustained economic growth. We incorporate patent protection into a Schumpeterian growth model in which take-off occurs when the population size crosses an endogenous threshold. We find that strengthening patent protection has contrasting effects on economic growth at different stages of development. Specifically, it leads to an earlier take-off but also reduces economic growth in the long run.

A NOTE ON THE IMPLICATIONS OF AUTOMATION FOR ECONOMIC GROWTH AND THE LABOR SHARE

2017 ◽  
Vol 23 (3) ◽  
pp. 1294-1301 ◽  
Author(s):  
Klaus Prettner
Keyword(s):  
United States ◽  
Economic Growth ◽  
Growth Rate ◽  
Population Growth ◽  
Capital Accumulation ◽  
Technological Progress ◽  
The United States ◽  
Economic Growth Rate ◽  
Labor Share ◽  
Long Run

We introduce automation into a standard model of capital accumulation and show that (i) there is the possibility of perpetual growth, even in the absence of technological progress; (ii) the long-run economic growth rate declines with population growth, which is consistent with the available empirical evidence; (iii) there is a unique share of savings diverted to automation that maximizes long-run growth; and (iv) automation explains around 14% of the observed decline of the labor share over the last decades in the United States.

Exchange Rate and Economic Growth

2017 ◽  
Vol 12 (1) ◽  
pp. 42-64 ◽  
Author(s):  
Mohammad A. Razzaque ◽  
Sayema Haque Bidisha ◽  
Bazlul Haque Khondker
Keyword(s):  
Economic Growth ◽  
Exchange Rate ◽  
Real Exchange Rate ◽  
Development Strategy ◽  
Analytical Framework ◽  
Policy Option ◽  
Exchange Rate Policy ◽  
Long Run ◽  
Exchange Rate Movements ◽  
Short Run

This article aims to understand the effects of exchange rate movements on economic growth in Bangladesh. Using a suitable analytical framework to derive an empirical specification, we construct a real exchange rate series and employ cointegration techniques to determine the output response to Bangladeshi currency depreciations. Our results suggest that in the long run, a 10 per cent depreciation of the real exchange rate is associated with, on average, a 3.2 per cent rise in aggregate output. However, a contractionary effect is observed in the short run so that the same magnitude of real depreciation would result in about a half per cent decline in GDP. While the long-run expansionary effect of real depreciations may be appealing for considering exchange rate policy as a development strategy, the likelihood of rising inflationary pressures needs to be kept in mind while pursuing this policy option.

scholarly journals Innovation, Public Policy and Growth: What the Data Say

2021 ◽  
pp. 9-22
Author(s):  
Ufuk Akcigit
Keyword(s):  
Economic Growth ◽  
Public Policy ◽  
Technological Progress ◽  
Innovation Policy ◽  
Firm Dynamics ◽  
Long Run ◽  
Shed Light

AbstractInnovation and technological progress are the key determinants of long-run economic growth and welfare. Therefore, an important question is, how can public policy encourage more innovation? In this chapter, I review some of the empirical findings from various recent studies on innovation and firm dynamics that can shed light on the design of innovation policy. The discussion in the chapter is divided into three categories: (i) firm studies, (ii) inventor studies, and (iii) idea (patent) studies.

scholarly journals The Second Split in Economic Science (About 2018 Nobel Memorial Prize in Economic Sciences)

2019 ◽  
Vol 13 (1) ◽  
pp. 77-84
Author(s):  
Y. P. Voronov
Keyword(s):  
Climate Change ◽  
Economic Growth ◽  
Technological Progress ◽  
Quantitative Model ◽  
Technological Innovations ◽  
Economic Science ◽  
Change Models ◽  
Macroeconomic Analysis ◽  
Long Run

In this article, I described the results of investigations achieved by two American economists William Nordhaus and Paul Romer. They have been awarded the 2018 Nobel Memorial Prize in Economic Sciences mainly for the introduction of feedbacks in economic and mathematical modelling. Nordhaus “for integrating climate change into long-run macroeconomic analysis” where quantitative model describes the global interplay between the economy and the climate and integrates theories and empirical results from physics, chemistry and economics. Romer “for integrating technological innovations into the long-run macroeconomic analysis” where he shows how knowledge can function as a driver of long-term economic growth.  I considered three blocks in the models of W. Nordhaus and P. Romer and the functions of each of them. Also, I discussed the assumptions that underlie their models. The author notes that climate change models are also being built in Russia, but there are no economic blocks in them, models of long-term economic growth with endogenous scientific and technological progress are formed in Russia also, but representatives of natural Sciences do not participate in them. Experience of the laureates shows that providing models of long-run economic development of the country and the world are necessary. The article also highlights P. Romer work on international Charter cities, the sources of world scientific and technological progress.

Patent Law and Innovation in Europe during the Industrial Revolution

2019 ◽  
Vol 60 (1) ◽  
pp. 1-8
Author(s):  
Alexander Donges ◽  
Felix Selgert
Keyword(s):  
Economic History ◽  
Financial Incentives ◽  
Industrial Revolution ◽  
Recent Literature ◽  
Patent Law ◽  
Dual Nature ◽  
Long Run ◽  
Patent Laws ◽  
Capital Access

Abstract Human capital, access to markets, and innovation-friendly institutions were important preconditions for the acceleration of technological change during the industrial revolution. In this context, the recent literature discusses the role of patents. Given their dual nature, patents may have either stimulated innovation through the creation of financial incentives for inventors or they may have hampered innovation, because they created monopolies that restricted the free flow of knowledge. For this reason, the overall effects of patents on innovation and, eventually, long-run economic growth are not clear. In order to develop a better understanding of the determinants of innovation, this special issue of the Economic History Yearbook therefore focuses on the causes and consequences of patent laws and patent law reforms in the nineteenth and early twentieth century in different European countries.

Tolerance, collaboration, and economic growth

2017 ◽  
pp. 33-49 ◽  
Author(s):  
V. Polterovich
Keyword(s):  
Economic Growth ◽  
Technological Progress ◽  
Political Correctness ◽  
Well Being ◽  
Social Forces ◽  
Political Pluralism ◽  
Fundamental Feature ◽  
Tolerance Level ◽  
The Past ◽  
Long Run

Institutional (in particular, political) pluralism is a fundamental feature of modern developed societies. Its cultural basis is the tolerance of citizens. The paper proposes to distinguish between legal, evaluative and interactive tolerance. This distinction makes it possible to explain the contradictory results obtained in econometric studies of tolerance and its links with the economic growth. Legal tolerance is the basis of competitive pluralism, and interactive one is the prerequisite for the formation of consensus pluralism, based on the collaboration of various social forces. Struggle for resources, intra- and intercountry inequality, “history wars” and prejudices prevent the strengthening of tolerance. Attention is drawn to the “paradox of political correctness”: dogmatic tolerance generates intolerant behavior. It is noted that interactive tolerance in developing countries is significantly correlated with technological progress and the level of well-being. The existence of this relationship, which is realized through collaboration mechanisms, gives the ground for supposition that, despite the contradictory dynamics of the tolerance level in the past 25 years, tolerance will be strengthening in the long run.

Economic growth: Nobel prize in economic sciences 2018 and the lessons for Russia

2019 ◽  
pp. 11-36 ◽  
Author(s):  
O. A. Zamulin ◽  
K. I. Sonin
Keyword(s):  
Economic Growth ◽  
Nobel Prize ◽  
Technological Progress ◽  
Growth Theory ◽  
Environmental Damage ◽  
Solow Model ◽  
Russian Economy ◽  
Intentional Actions ◽  
Long Run ◽  
Negative Effect

The article discusses the evolution of the theory of long-run economic growth and the contribution of the 2018 Nobel prize winners Paul Romer and William Nordhaus. First, it describes the exogenous growth theory of the 1950s and 1960s, such as the Solow model, the Ramsey model, and the overlapping generations model, in which growth is determined by exogenously given technological progress. Then the paper turns to the contribution of the Nobel laureates, who were the first ones to develop the theory of endogenous growth. In the case of the Romer model, technological progress is the result of intentional actions of firms, which introduce new products and thereby raise the overall productivity. In case of the Nordhaus model, production causes environmental damage, which then stifles further growth. In both cases production causes externalities, which have either positive or negative effect on growth. Then, the article considers further developments in the theory of economic growth, such as the Schumpeterian theory , unified growth theory, and institutional theory. The paper concludes with some practical implications about policies needed to reignite the growth of the Russian economy.

scholarly journals Traditional Knowledge and Patent Protection: Conflicting Views On International Patent Standards

2017 ◽  
Vol 13 (4) ◽  
pp. 93 ◽  
Author(s):  
Adam Andrzejewski
Keyword(s):  
Traditional Knowledge ◽  
Patent Protection ◽  
Plant Genetic Resources ◽  
Patent Law ◽  
International Standards ◽  
International Patent ◽  
Patent Laws ◽  
Protection Systems ◽  
National Patent ◽  
And Control

As diseases continue to spread around the globe, pharmaceutical and biotech companies continue to search for new and better drugs to treat them. Most of these companies have realised that useful compounds for these purposes may be found in the natural resources that indigenous and local communities use. And yet, even though the importance of these biological resources to global health and economic livelihood is well recognised, the legal ownership and control of this traditional knowledge is still very controversial. This article undertakes a comparative analysis of American and European, as well as international legal regulations on patent law and traditional knowledge. Key questions include: What is traditional knowledge? How have the national patent laws of these countries treated the protection of plant variety and plant genetic resources? What are the existing international standards for patents, and what implications do they have for protecting traditional knowledge? And finally, what protection systems are emerging for the future?

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