Chu, Angus C. and Cozzi, Guido (2011): Cultural preference on fertility and the growth and welfare effects of intellectual property rights.
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How does patent policy affect economic growth through human capital accumulation and endogenous fertility? In this study, we develop a scale-invariant R&D-based growth model to analyze an unexplored interaction between intellectual property rights, endogenous fertility, human capital accumulation and economic growth. We find that strengthening patent protection has (a) a positive effect on technological progress, (b) a negative effect on human capital accumulation through a higher rate of fertility, and (c) an ambiguous overall effect on economic growth. Furthermore, a stronger cultural preference for fertility strengthens the negative effect of patent policy relative to its positive effect on economic growth. Finally, we calibrate the model to provide a quantitative analysis on the relative strength of these opposing effects of patent policy.
|Item Type:||MPRA Paper|
|Original Title:||Cultural preference on fertility and the growth and welfare effects of intellectual property rights|
|Keywords:||economic growth; endogenous fertility; patent policy|
|Subjects:||O - Economic Development, Technological Change, and Growth > O3 - Technological Change; Research and Development; Intellectual Property Rights > O34 - Intellectual Property Rights
O - Economic Development, Technological Change, and Growth > O3 - Technological Change; Research and Development; Intellectual Property Rights > O31 - Innovation and Invention: Processes and Incentives
O - Economic Development, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O40 - General
|Depositing User:||Angus C. Chu|
|Date Deposited:||05. Jun 2011 15:10|
|Last Modified:||13. Feb 2013 09:10|
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Cultural preference on fertility and the long-run growth effects of intellectual property rights. (deposited 24. Feb 2011 18:35)
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