lower than the social planner's benchmark, which suggests a role for patent policy. We focus on a “non-infringing inventive … instrument in the form of patent length policy …

lower than the social plannerś benchmark, which suggests a role for patent policy. We focus on a "non-infringing inventive … instrument in the form of patent length policy. …

We develop a Schumpeterian growth model to analyze the interaction between patent policy and firms’ internal strategies … to capture value from innovations. We consider two dimensions of patent policy: backward protection against imitation and …. Incumbent patent holders endogenously invest resources to protect their monopoly rents by impeding market entry of innovative …

past innovations. With full patent protection, followers can catch up to the leader in their industry either by making the … simple form of licensing. Second, we show that full patent protection is not optimal from the viewpoint of maximizing the …

patent lifetime a government would set in order to maximise economic growth. We show that a finite patent lifetime does exist … of research technology on this optimal patent lifetime …

-technology machine is launched after the patent is granted is influenced by two factors: returns to scale in technology development and … imitators to enter an industry, i.e., when imitation is swift and relatively cheap and/or patent protection is relatively … lengthy. We then explore the link between the optimal patent length and economic growth, and find that the equilibrium …