In the 2000s, the increasing importance of the relationship between Research and Development (R&D) expenditures and technology has highlighted the discussions about the impact of technological progress and innovation on economic growth and development. Many theoretical and empirical studies in...

The key institution that determines sustained growth in R&D-based growth models is the strength of intellectual property rights, which are usually assumed to be exogenous. In this paper we endogenize the strength of the intellectual property rights and show how private incentives to protect...