Journal Article

Academic and industrial R&D: are they always complementary? A theoretical approach

Luca Spinesi

in Oxford Economic Papers

Volume 65, issue 1, pages 147-172
Published in print January 2013 | ISSN: 0030-7653
Published online June 2012 | e-ISSN: 1464-3812 | DOI: https://dx.doi.org/10.1093/oep/gps024
Academic and industrial R&D: are they always complementary? A theoretical approach

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Two strategies have largely been adopted by the US government to enhance the scientific academic contribution to industrial innovations and growth: financing academic research and granting academic ideas the same intellectual property rights (IPR) as industrial innovations. In distinguishing the stages of R&D within a dynamic general equilibrium model, it is found that academic government expenditures spur industrial R&D when academia and industry are almost equally efficient in their research capabilities and when firms have a high enough market size. Moreover, it is found that the softer IPR regime granted to academia increases the per capita growth rate of the economy.

Keywords: O31; O34; O38

Journal Article.  9431 words.  Illustrated.

Subjects: Technological Change; Research and Development

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