This paper examines how the role of patents and utility models in innovation and economic growth varies by level of economic development. Using a panel dataset of over 70 countries, we find that patent protection is an important determinant of innovation and that patentable innovations...

Countries enact various mechanisms, such as patent protection, to encourage, protect, and reward firm innovation. The degree to which these mechanisms afford firms protection over their intellectual property influences the innovation strategy that firms pursue and innovation investments they...

Economics is a matter of choice and growth, of interaction and exchange among individuals. Because property rights define the rules of these interactions and the objects of exchange, it is vital to fully understand the institutions and implications of the various property-rights regimes. With...