Financial Development, Property Rights, and Growth
نویسندگان
چکیده
منابع مشابه
Financial Development , Intellectual Property Rights , and Growth
This paper explores the interaction between long run economic growth, financial development, and intellectual property rights through a general equilibrium, over-lapping generation, infinite horizon, endogenous R&D model with heterogeneous agents. I find that a reduced collateral constraint leads to both an ability to engage more heavily in research and a reduced incentive to engage in research...
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This chapter develops a unified analytical framework, drawing on and extending the existing literature on the subject, for studying the role of property rights in economic development. It addresses two fundamental and related questions concerning the relationship between property rights and economic activity. (i) What are the mechanisms through which property rights affect economic activity? (i...
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We show that, even in a framework in which monopolistic exploitation of patents does not occur, patents still give rise to serious drawbacks. We build on Weitzman’s (1998) recombinant growth model which provides a stylized but clear description of the formation of knowledge externalities. In our framework a benevolent government buys immediately new patents in a competitive market and releases ...
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ژورنال
عنوان ژورنال: The Journal of Finance
سال: 2003
ISSN: 0022-1082
DOI: 10.1046/j.1540-6261.2003.00610.x