Exclusivity Term in Economic (Exclusive) and Property Rights

Property Rights and Economic Development

This chapter develops a unified analytical framework, drawing on and extending the existing literature on the subject, for studying the role of property rights in economic development. It addresses two fundamental and related questions concerning the relationship between property rights and economic activity. (i) What are the mechanisms through which property rights affect economic activity? (i...

Intellectual Property Rights and Economic Development

Asymmetric Property Rights in China’s Economic Growth

This paper highlights the difference between secure investor property rights and loosely defined individual property rights. Globalization and fiscal decentralization have intensified this difference. On the one hand, in the presence of mobile foreign direct investments and under the arrangement of fiscal decentralization, local governments compete vigorously to offer various protections on the...

Intellectual Property Rights and Economic Growth

I study the role of intellectual property rights (IPRs) in a model of endogenous growth with sequential innovation. The model mimics the innovation process in hi-tech sectors where many of the techniques and products used in R&D are recent discoveries themselves. Depending on the structure of the patent system, some of these discoveries might still be protected by a patent. In this context IPRs...

Economic Foundations of Intellectual Property Rights

My work in the economics of innovation began some forty years ago. I realized, as I was beginning my work on the Economics of Information, that knowledge and information are very similar. In fact, you can view information as a particular kind of knowledge, and so the problems that I was analyzing at the time, such as how well the market economy deals with information, corresponded to the questi...