Patentability and Knowledge Spillovers of Basic R&amp;D

Chu, Angus C.; Furukawa, Yuichi

doi:10.4284/0038-4038-2011.207

Cited by 12 publications

(10 citation statements)

References 46 publications

(63 reference statements)

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“…The same argument has been suggested in different studies (Akcigit, Hanley, & Serrano-Velarde, 2013;Chu & Furukawa, 2013;Shapiro & Taylor, 2013), and Schumpeterian growth models also considered that basic research yields more knowledge spillovers, and, for this reason, it is particularly important for economic growth (Aghion & Howitt, 1996). Empirical analyses confirmed that large spillovers arise from basic research (Salter & Martin, 2001): Funk (2002) found that it generates much larger international spillovers; Griliches (1985), Mansfield (1980) and Lichtenberg and Siegel (1991) identified a "premium" for basic research, meaning that it is more important for productivity increase than other types of R&D; and Mansfield (1991) estimated a 28% social rate of return of academic research in the late 1970s.…”

Section: Randd and Knowledge Spilloverssupporting

confidence: 76%

Fiscal decentralization and public R&D policy: a cross-country analysis

Colombo¹,

Martínez-Vázquez²

2018

Blucher Engineering Proceedings

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The objective of this paper is to examine whether the level of fiscal decentralization of a country is a relevant variable to explain public investment in innovation (measured as the share of research and development (R&D) spending in total government budget) and the intensity of basic research within the public R&D bundle. To assess the effects of decentralization, we present a theoretical model where a 'benevolent government' invests in R&D aiming at maximizing net income available in the country (central government) or in the respective region (subnational government), states compete to attract capital investment, and R&D results are subject to interregional knowledge spillovers. According to the model, decentralization leads to a lower share of basic research in government innovation spending. The impact on total R&D is ambiguous, although it tends to be negative. The conclusions of the model are tested through an empirical analysis using country aggregate data. Confirming the predictions of the model, we find evidence that expenditure decentralization leads to lower intensity of basic research within public R&D, and that both types of decentralization negatively affect the size of innovation spending. Our findings suggest that deepening fiscal decentralization should be considered along with measures to compensate for innovation spending decrease, and that the central government should play a greater role in financing or carrying out basic research.

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Section: Randd and Knowledge Spilloverssupporting

confidence: 76%

Fiscal decentralization and public R&D policy: a cross-country analysis

Colombo¹,

Martínez-Vázquez²

2018

Blucher Engineering Proceedings

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“…However, in reality, private firms also conduct basic research, as stressed by the literature (e.g. Chu et al ., ; Chu and Furukawa, ; Cozzi and Galli, ). To discuss this issue, we extend the present model following Chu and Furukawa ().…”

Section: Discussionmentioning

confidence: 99%

“…Chu et al, 2012;Chu and Furukawa, 2013;Cozzi and Galli, 2009, 2014. To discuss this issue, we extend the present model following Chu and Furukawa (2013). For simplicity, we assume that g = 0 and h = 0 in the production sector.…”

Section: Basic Research Funded By Private Sectormentioning

confidence: 99%

“…Other related studies are the strand of the literature on R&D-based growth models that characterize innovation as a two-stage research activity, with basic research followed by applied research (e.g. Chu et al, 2012;Chu and Furukawa, 2013;Cozzi and Galli, 2009, 2014. In these models, monopoly profits are divided between basic and applied researchers.…”

Section: Introductionmentioning

confidence: 99%

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Basic and Applied Research: A Welfare Analysis

Konishi

2017

Jpn Econ Rev

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This study constructs a variety expansion growth model that integrates basic research to analyse its effects on household welfare. In our model, the research sector consists of applied and basic research components. The former creates blueprints and expands the variety of goods available for consumption, whereas the latter adds to the public‐knowledge stock. The analysis yields several results. First, the steady‐state welfare‐maximizing level of basic research is below the steady‐state growth‐maximizing level. Second, a consideration of the welfare effects during the transition path suggests that marginal changes in the level of basic research can increase household welfare even at its steady‐state welfare‐maximizing level. Third, by using data from Japan, we calibrate the model and find that an increase in basic research spending raises household welfare.

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“…Bond and Zissimos (2010) demonstrate how the patent breadth can vary across identical countries. Chu and Furukawa (2011) study the optimal patentability and assigned profit share of basic R&D.…”

Section: Introductionmentioning

confidence: 99%

Horizontal inventive step and international protection of intellectual property

Yang

2013

International Review of Economics & Finance

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Patentability and Knowledge Spillovers of Basic R&D

Cited by 12 publications

References 46 publications

Fiscal decentralization and public R&D policy: a cross-country analysis

Fiscal decentralization and public R&D policy: a cross-country analysis

Basic and Applied Research: A Welfare Analysis

Horizontal inventive step and international protection of intellectual property

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