Transition has entailed the introduction of policies to stimulate product market competition, to establish effective corporate governance and to harden enterprise budget constraints. How do these policies interact? Are they substitute policy instruments or does one policy reinforce the effect of another? Although early endogenous growth models predicted a negative relationship between competiti...

We show that, even in a framework in which monopolistic exploitation of patents does not occur, patents still give rise to serious drawbacks. We build on Weitzman’s (1998) recombinant growth model which provides a stylized but clear description of the formation of knowledge externalities. In our framework a benevolent government buys immediately new patents in a competitive market and releases ...

The commercialization of university research has become an increasingly important issue, given concerns regarding licensing and the university’s desire to maximize the returns to intellectual property (IP). In this paper, we assess the impact of university resources and routines/capabilities on the creation of spin-out companies. We find that both the number of spin-out companies created and th...

We set up an endogenous growth model with physical capital, human capital and blueprints for intermediate goods. The model can generate steady-state growth or stagnation. Along the adjustment path for a developing economy we can distinguish di!erent stages of development. The "rst stage is characterized by physical factor accumulation. At the second stage the economy follows a growth path which...

We develop a model with finite number of multiproduct firms together continuum single-product and study the dynamics that arise from product innovation. Consistent available evidence, predicts rising markups concentration declining labor share. Our predict possibility an inverted-U relationship between productivity span, for which we provide suggestive evidence. In optimal allocation, span are ...

Numerous attempts have been made to identify the optimal mix of patent breadth and patent life. Unfortunately, the range of contradictory results reported in literature is rather impressive. The aim of this note is to develop a very stylised model that encompasses a variety of different findings, and to derive a general rule for the optimal patent policy. JEL classification: O34, O31.

This article focuses on two distinct faces of globalization: the decrease in trade costs of goods and the decline of affiliation costs of joint ventures by foreign firms with local firms. The decrease of affiliation costs drives relocation of firms from the North to the South. When the market size of the North is relatively small (resp. large), the growth rate monotonously decreases (resp. firs...

We propose a new method to estimate and isolate the localization of knowledge spillovers due physical presence person, using after-application but pre-grant deaths differently located coinventors same patent. The approach estimates differences in local citations between deceased still-living inventors at increasingly distant radii. Patents receive 26 percent fewer from within radius 20 miles ar...

Recent court decisions, starting with the State Street decision in 1998, allow business methods to be patentable and now give …nancial institutions the option to seek patent protection for …nancial innovations. This new patentability paradigm and the heterogeneity of characteristics associated with …nancial innovations, poses an immediate decision problem for senior management: what to patent. ...