Luca Spinesi, Department of Economics, University of Rome 3, Rome, Italy (email@example.com). I would like to thank two anonymous referees, seminar participants at Ecole Politechnique of Paris, Royal Economic Society Meeting 2009 at the University College of London, University of Bath, Toulouse School of Economics, EPIP Conference 2008 at the University of Bern, University Statale of Milan. All errors are mine.
Heterogeneous Academic-Industry Knowledge Linkage, Heterogeneous IPR, and Growth
Article first published online: 27 JAN 2012
© 2012 Wiley Periodicals, Inc.
Journal of Public Economic Theory
Volume 14, Issue 1, pages 67–98, February 2012
How to Cite
SPINESI, L. (2012), Heterogeneous Academic-Industry Knowledge Linkage, Heterogeneous IPR, and Growth. Journal of Public Economic Theory, 14: 67–98. doi: 10.1111/j.1467-9779.2011.01534.x
- Issue published online: 27 JAN 2012
- Article first published online: 27 JAN 2012
- Received April 7, 2009; Accepted July 11, 2011.
Empirical evidence shows the existence of relevant spillovers from the stock of academic basic knowledge on industry. Interestingly, such spillovers are highly specific in that firms’ academic learning responds strongly to federally funded R&D in closely affiliated universities. Moreover, with the aim of enhancing such a technological transfer from academia to industry, the policy design of many OECD countries allows worthy academic ideas to be granted the same intellectual property rights (IPR) as industrial innovations. In distinguishing the stages of an R&D process within a dynamic general equilibrium model, this paper explicitly considers both industrial and government R&D efforts, with heterogeneous academic knowledge spillovers among industry lines. The results show that both the industrial R&D effort and the growth rate are spurred more by a “softer” IPR regime granted to academic ideas than by an increase in the industrial R&D subsidy.