Innovation, Intellectual Property, and Economic Growth

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  • Format: Paperback
  • Copyright: 2010-01-24
  • Publisher: Princeton Univ Pr

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What drives innovation? How does it contribute to the growth of firms, industries, and economies? And do intellectual property rights help or hurt innovation and growth? Uniquely combining microeconomics, macroeconomics, and theory with empirical analysis drawn from the United States and Europe, this book introduces graduate students and advanced undergraduates to the complex process of innovation. By addressing all the major dimensions of innovation in a single text, Christine Greenhalgh and Mark Rogers are able to show how outcomes at the microlevel feed through to the macro-outcomes that in turn determine personal incomes and job opportunities.In four sections, this textbook comprehensively addresses the nature of innovation and intellectual property, the microeconomics and macroeconomics of innovation, and economic policy at the firm and macroeconomic levels. Among the topics fully explored are the role of intellectual property in creating incentives to innovate; the social returns of innovation; the creation and destruction of jobs by innovation; whether more or fewer intellectual property rights would give firms better incentives to innovate; and the contentious issues surrounding international treaties on intellectual property.Clearly organized and highly readable, the book is designed to be accessible to readers without advanced economics backgrounds. Most technical materials appear in boxed inserts and appendixes, and numerous graphs and tables elucidate abstract concepts. Provides a comprehensive overview of the economic causes and effects of innovation Covers microeconomics, macroeconomics, theoretical and empirical analysis, and policy Includes up-to-date coverage of trends and policy in intellectual property and research and development Features mathematics appendix and keywords and questions to assist learning and teaching Lecture slides and outlines of answers to discussion questions available online

Author Biography

Christine Greenhalgh is professor of applied economics at the University of Oxford and fellow and tutor in economics at St. Peter's College, Oxford. Mark Rogers is fellow in economics at Harris Manchester College, Oxford, and professor of the economics of innovation at Aston University.

Table of Contents

Prefacep. xi
Referencesp. xvi
The Nature of Innovationp. 1
The Nature and Importance of Innovationp. 3
Introductionp. 3
What Is Innovation?p. 4
The Microeconomic Effects of Innovationp. 9
Interaction between Producers and Users of Innovationp. 16
Innovations and Market Failurep. 17
Restoring Incentives to Invent and Innovatep. 23
Firms Competing through Innovationp. 28
Conclusionp. 29
Referencesp. 30
The Nature and Role of Intellectual Propertyp. 32
Introductionp. 32
Why Are Intellectual Property Rights Awarded?p. 32
Patentsp. 34
Trademarksp. 39
Designs and Utility Modelsp. 43
Copyrightp. 45
Further Questions about IPRsp. 49
Conclusionsp. 53
Referencesp. 55
The Measurement of Innovation, Productivity, and Growthp. 57
Introductionp. 57
How Can Innovation Be Measured?p. 58
Illustrations of Innovation Statisticsp. 64
Productivity at the Firm, Industry, and Economy Levelp. 70
Comparing Productivity and Growth across Countriesp. 74
Conclusionp. 80
Referencesp. 82
The National Innovation Systemp. 85
The National Innovation Systemp. 87
Introductionp. 87
The National Innovation Systemp. 87
The Central Role of R&Dp. 88
The Government-University Axisp. 92
The University-Business Axisp. 95
The Government-Business Axisp. 103
National Innovation Systems in Emerging Marketsp. 106
Conclusionsp. 110
Referencesp. 112
Innovative Firms and Marketsp. 116
Introductionp. 116
Entrepreneurship and New Firmsp. 116
Innovation and Firmsp. 119
Markets and Innovationp. 121
Empirical Evidence on the Returns to Innovationp. 132
Evidence on Interactions between Competition and Innovationp. 140
Conclusionsp. 142
Referencesp. 145
Intellectual Property Rights and Firmsp. 149
Introductionp. 149
How Can Firms Benefit from IPRs?p. 150
Exploring the Returns to IPRsp. 152
Markets for IPRsp. 157
Costs of Obtaining and Enforcing IPRsp. 160
IPR Strategiesp. 162
Empirical Studies on the Value of IPRsp. 164
Conclusionsp. 171
Referencesp. 173
Diffusion and Social Returnsp. 177
Introductionp. 177
Modeling the Rate of Adoption of an Innovationp. 179
Statistical Evidence on Rates of Adoptionp. 186
Spillovers and Social Returns to Innovationp. 190
Empirical Studies of Social Returnsp. 199
Spatial Dimensions of Spilloversp. 204
Conclusionsp. 205
Referencesp. 207
The Macroeconomics of Innovationp. 211
Models of Economic Growthp. 213
Introductionp. 213
The Neoclassical Growth Modelp. 215
Endogenous Growth Modelsp. 225
Evolutionary and Other Modelsp. 237
Conclusionsp. 239
Referencesp. 241
Innovation and Globalizationp. 243
What Is Globalization?p. 243
World Trade in Historical Perspectivep. 245
Theories of Trade and Growthp. 246
International Knowledge and Technology Flows: Theory and Evidencep. 250
International Financial Flowsp. 256
International Aspects of IPRsp. 260
Conclusionsp. 263
Referencesp. 266
Technology, Wages, and Jobsp. 268
Introductionp. 268
Microeconomic Models of Innovation and Labor Marketsp. 268
Innovation and Labor Markets; Evidence from Firmsp. 275
Macroeconomic and Trade Models of Innovation and Labor Markersp. 280
Conclusionsp. 289
Referencesp. 291
Economic Policyp. 295
Microeconomic Policies to Promote Firm-Level Innovationp. 297
Introductionp. 297
Is the Intellectual Property System Working?p. 297
Incentive Systems for Encouraging Firm-Level R&Dp. 313
Other Innovation Policiesp. 317
Conclusionsp. 323
Referencesp. 325
Macroeconomic Issues and Policyp. 329
Introductionp. 329
Macroeconomic Evidence on IPRs and Economic Growthp. 330
Trade-Related Aspects of Intellectual Property (TRIPS)p. 334
Intellectual Property Rights, Exhaustion, and Parallel Importsp. 340
Piracy and Counterfeitp. 342
R&D in the Global Economyp. 344
International Migration of Skilled Laborp. 346
Conclusionsp. 347
Referencesp. 349
Mathematical Appendixp. 353
Production Functionsp. 353
Present Discounted Valuep. 354
Derivativesp. 355
Marginal Products and Diminishing Returnsp. 356
Accumulation Equations and Growth Ratesp. 357
Logarithms and Production Functionsp. 358
Differential Equations and a Catch-up Modelp. 358
Estimating Production Functionsp. 359
Referecesp. 360
Indexp. 361
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