This paper develops a three-stage model of innovation, fixed-fee licensing and production to evaluate the welfare effects of compulsory licensing, taking into account both static (information sharing) and dynamic (innovation incentive) effects. Compulsory licensing is shown to have an...

Romania's position as one of the EU member states brought new challenges in terms of industrial policy, in order to respond to the necessity of bringing the competitiveness level of the Romanianeconomy close to the average level of the European states, by respecting the free trade principles of...