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|Title:||Intellectual Property and Product Market Competition Regulations in a Model with Two R&D Performing Sectors|
|Publisher:||Cambridge University Press|
|Abstract:||I analyze the impact of intellectual property and product market competition regulations on innovation and long-run growth in an endogenous growth model with two R&D performing sectors. I show that strengthening intellectual property rights and competition in a sector increases its R&D investments. However, these policies adversely affect R&D investments in the other sector because of increased factor competition between the sectors. As a result, the overall impact of such policies on economic growth is ambiguous. I perform a numerical exercise in an attempt to resolve this ambiguity. This exercise suggests that strengthening intellectual property rights increases economic growth, but higher competition has a very limited effect on growth.|
|Note:||Versió postprint del document publicat a: https://doi.org/10.1017/S1365100518000573|
|It is part of:||Macroeconomic Dynamics, 2021, vol. 25, num. 1, p. 59-80|
|Appears in Collections:||Articles publicats en revistes (Economia)|
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