Citation:
Nikolaos Papageorgiadis, Constantinos Alexiou and Joseph G. Nellis. On patent legislation, patent enforcement and economic growth: empirical evidence from developed and developing countries. Global Business and Economics Review (GBER), 2016, Vol. 18, No. 6, pp623-641
Abstract:
This study investigates the long-term effects of national patent
legislation and enforcement systems on the economic development of
42 countries. The econometric methodology that has been adopted involves the
estimation of three different models, namely, the pooled, the fixed effects and
the random effects models whilst the specification of the economic
development regressions is a variant of the standard growth specifications
encountered in relevant studies. The empirical analysis is conducted in the
context of the time period following the imposition of trade-related aspects of
intellectual property rights (TRIPs). The results show that the extension and
strengthening of patent legislation resulting from TRIPs have had a negative
impact on economic development. In contrast, stronger levels of patent
enforcement have had a positive effect overall and particularly for developing
economies while negative for developed economies.