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Innovation, inequality and intellectual property rights

Weinhold, Diana and Nair-Reichert, Usha (2009) Innovation, inequality and intellectual property rights. World Development, 37 (5). pp. 889-901. ISSN 0305-750X

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Abstract

We examine whether income inequality explains innovation across countries. The mechanism could be twofold: first, a large middle class could have an impact on institutions, including intellectual property rights (IPRs), which could in turn affect innovation. Second, evidence from US economic history suggests direct linkages between middle class share and innovation via supply and demand effects. Using IVE to address endogeneity, we find that middle class share explains patterns of resident patenting, while non-resident patenting is driven more by exogenous factors and global integration. Our results illustrate an additional channel through which income inequality can impact long run growth.

Item Type: Article
Official URL: http://www.sciencedirect.com/science/journal/03057...
Additional Information: © 2009 Elsevier
Library of Congress subject classification: H Social Sciences > HC Economic History and Conditions
Sets: Departments > International Development
Collections > Economists Online
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 27 Feb 2009 13:31
URL: http://eprints.lse.ac.uk/22993/

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