This study develops an R&D-based growth model with vertical and horizontal innovation to shed some light on the current … debate on whether patent protection stimulates or stifles innovation. We analyze the effects of patent protection in the form … of blocking patents. We show that patent protection changes the direction of innovation by having asymmetric effects on …

This study analyzes how patent protection affects innovation in an R&D-based growth model with elastic labor supply. We … find that increasing patent breadth may generate an inverted-U effect on innovation depending on whether the model features … the knowledge-driven or lab-equipment innovation process. This result highlights an important interaction between elastic …

growth in the developing country is driven by domestic innovation as well as imitation and transfer of foreign technologies … development, the country implements strong IPR protection to encourage domestic innovation. Therefore, the growth-maximizing and …