Market failure, government inefficiency, and optimal R&D policy

Perez-Sebastian, Fidel

Abstract

This paper presents a growth model that can explain the coexistence of intellectual property rights and R&D subsidies as a response to the presence of both market and government failures. The framework can also generate the observed positive correlation between these two policy tools.

Citation

Perez-Sebastian, F. (2015). Market failure, government inefficiency, and optimal R&D policy. Economics letters, 128, 43-47. https://doi.org/10.1016/j.econlet.2015.01.012

• Journal Article Type: Article
• Acceptance Date: Jan 10, 2015
• Online Publication Date: Jan 19, 2015
• Publication Date: Mar 1, 2015
• Deposit Date: Mar 16, 2016
• Publicly Available Date: Nov 23, 2017
• Journal: Economics letters
• Print ISSN: 0165-1765
• Publisher: Elsevier
• Peer Reviewed: Peer Reviewed
• Volume: 128
• Pages: 43-47
• DOI: https://doi.org/10.1016/j.econlet.2015.01.012
• Keywords: R&D subsidies; IPR; Economic growth
• Public URL: https://hull-repository.worktribe.com/output/471975
• Publisher URL: http://www.sciencedirect.com/science/article/pii/S0165176515000221
• Additional Information: Authors' accepted manuscript of article published in: Economics letters, 2015, v.128.