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Knowledge Licensing in a Model of R&D-driven Endogenous Growth [WP]

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In this paper I present an endogenous growth model where the engine of growth is in-house R&D performed by high-tech firms. I model knowledge (patent) licensing among high-tech firms. I show that if there is knowledge licensing, high-tech firms innovate more and economic growth is higher than in cases when there are knowledge spillovers or there is no exchange of knowledge among high-tech firms. However, in case when there is knowledge licensing the number of high-tech firms is lower than in cases when there are knowledge spillovers or there is no exchange of knowledge.

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Universitat de Barcelona. Facultat d'Economia i Empresa

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UB Economics – Working Papers, 2014, E14/304

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Knowledge Licensing in a Model of R&D-driven Endogenous Growth [WP]