nep-ipr New Economics Papers
on Intellectual Property Rights
Issue of 2014‒11‒28
five papers chosen by
Giovanni Ramello
Università degli Studi del Piemonte Orientale “Amedeo Avogadro”

  1. Intangible Capital, Innovation, and Growth in China By Fleisher, Belton; McGuire, William; Smith, Adam; Zhou, Mi
  2. Where are innovation indicators, and their applications, going? By Gault F.
  3. Patent Collateral, Investor Commitment, and the Market for Venture Lending By Yael V. Hochberg; Carlos J. Serrano; Rosemarie H. Ziedonis
  4. The Effect of High-Skilled Immigration on Patenting and Employment: Evidence from H-1B Visa Lotteries By Kirk Doran; Alexander Gelber; Adam Isen
  5. Innovation and Economic Growth in European Union. Panel Data Analysis By Andrzej Kacprzyk; Wirginia Doryn; ;

  1. By: Fleisher, Belton; McGuire, William; Smith, Adam; Zhou, Mi
    Abstract: We study the relationship between industry-level investments in intangible capital (IC) and three key economic indicators in China. We find that investments in IC are productivity-enhancing among Chinese enterprises—more so in domestically owned than in foreign invested enterprises. Consistent with other research, we find that China’s IC generates new patents, but fewer than in major industrialized economies. Among domestically owned enterprises, we find that IC growth has been associated with increasing export-competitiveness, while among foreign invested enterprises, it has been oriented more toward improving domestic sales.
    Keywords: Intangible capital, technology, economic growth, intellectual property, Asia, China, International Development, International Relations/Trade, Production Economics, O31, O33, O34, O43, P33,
    Date: 2014
  2. By: Gault F. (UNU-MERIT)
    Abstract: This paper reviews the current state of indicators of the activity of innovation and how they are presented for use in the policy process leading to a discussion of the development of new indicators, some outside of the business sector, which raises questions about the definition of innovation. This is followed by a review of plans for the evolution of innovation indicators and their use over the next few years. These plans, national and international, are diverse and this leads to a discussion of international organizations and forums which could facilitate progress towards new indicators and a better understanding of innovation systems.
    Keywords: Technological Change; Research and Development; Intellectual Property Rights: General; Innovation and Invention: Processes and Incentives; Technological Change: Government Policy; Cultural Economics: Public Policy;
    JEL: O30 O31 O38 Z18
    Date: 2014
  3. By: Yael V. Hochberg; Carlos J. Serrano; Rosemarie H. Ziedonis
    Abstract: The use of debt to finance risky entrepreneurial-firm projects is rife with informational and contracting problems. Nonetheless, we document widespread lending to startups in three innovation-intensive sectors and in early stages of development. At odds with claims that the secondary patent market is too illiquid to shape debt financing, we find that intensified patent trading increases the annual rate of startup lending, particularly for startups with more redeployable (less firm-specific) patent assets. Exploiting differences in venture capital (VC) fundraising cycles and a negative capital-supply shock in early 2000, we also find that the credibility of VC commitments to refinance and grow fledgling companies is vital for such lending. Our study illuminates friction-reducing mechanisms in the market for venture lending, a surprisingly active but opaque arena for innovation financing, and tests central tenets of contract theory.
    JEL: G24 L14 L26 O16 O3
    Date: 2014–10
  4. By: Kirk Doran; Alexander Gelber; Adam Isen
    Abstract: We study the effect of winning an additional H-1B visa on a firm's patenting and employment outcomes. We compare firms randomly allocated H-1Bs in the Fiscal Year 2006 and 2007 H-1B visa lotteries to other firms randomly not allocated H-1Bs in these lotteries. We use Department of Homeland Security administrative data on the winners and losers in these lotteries matched to administrative data on the universe of approved U.S. patents, and matched to IRS administrative data on the universe of U.S. employment. Winning an H-1B visa has an insignificant average effect on patenting, with confidence intervals that rule out moderate-sized effects and that are even more precise in many cases. Employment data generally show that on average H-1B workers at least partially replace other workers in the same firm, with estimates typically indicating substantial crowdout of other workers.
    JEL: J18 J21 J23 J24 J44 J48 J61 O3 O32 O34 O38
    Date: 2014–11
  5. By: Andrzej Kacprzyk (University of Lodz, Faculty of Economics and Sociology); Wirginia Doryn (University of Lodz, Faculty of Economics and Sociology); ;
    Abstract: There seems to be a growing consensus among economists and policy makers that investment in knowledge, which is at the center of the endogenous growth process, is a precondition for achieving permanently high economic growth. This paper examines relationship between economic growth and the various indicators of innovative activity that contribute to new knowledge creation. Our study differs from previous analyses, which mainly employed data from OECD countries. To the best of our knowledge, this is the first attempt to test whether the impact of innovative activity on growth differs between old and new European Union member states. Based on the panel data regression model we examine the interaction between economic growth and innovation, the latter proxied by R&D expenditures and patent statistics. We distinguish between publicly and privately-funded R&D and try to answer the question whether private and public R&D investments differ in terms of fostering economic growth. The results are sensitive to the sample analyzed and indicate that the relationship between innovation efforts and growth is more complex and ambiguous than expected.
    Keywords: Economic growth, innovation, R&D, patents, panel data
    JEL: O33 O30 O47
    Date: 2014–10

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