Financial Reforms, Patent Protection and Knowledge Accumulation in India

Ang, James (2009): Financial Reforms, Patent Protection and Knowledge Accumulation in India.

Abstract

The main objective of this paper is to explore the impact of financial sector reforms, financial deepening and intellectual property protection on the accumulation of knowledge for one of the world’s largest developing countries. The findings indicate that increased intellectual property rights protection is associated with higher knowledge accumulation. While financial deepening facilitates the accumulation of ideas, the implementation of a series of financial liberalization policies is found to have a non-linear effect. The results show that financial liberalization will exert a beneficial impact on technological deepening only if the financial system is sufficiently liberalized.

• Item Type: MPRA Paper
• Language: English
• Keywords: financial liberalization; ideas production; endogenous growth; India.
• Subjects: O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O30 - General; E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E58 - Central Banks and Their Policies; O - Economic Development, Innovation, Technological Change, and Growth > O5 - Economywide Country Studies > O53 - Asia including Middle East; E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E44 - Financial Markets and the Macroeconomy

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