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Impact of intellectual property rights on macroeconomic growth: A panel data study in Korea

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  • Impact of intellectual property rights on macroeconomic growth: A panel data study in Korea
  • Lim, Hyojeong
  • International Institute of Social and Economic Sciences


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Title Impact of intellectual property rights on macroeconomic growth: A panel data study in Korea
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Material Type Proceedings
Author(English)

Lim, Hyojeong

Publisher

Amsterdam, Netherland:International Institute of Social and Economic Sciences

Date 2015-05
Event

16th International Academic Conference

Pages 9
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Government and Law < Laws and Legislation
Holding EconPapers

Abstract

Based on the assumption that intellectual property rights are a driver of economic development, this paper aims to estimate the production elasticity of intellectual property stocks in Korea. The unbalanced panel data during 2005-2012 is constructed with 29 manufacturing and service industries and applied to a Cobb-Douglas production function. Empirical results confirm that the stock of patents, the stock of trademarks, and the stock of design rights significantly contribute to Korean economic growth in the 2000s, respectively. Whereas the production elasticity of intellectual property stocks differs in the characteristics of patents, trademarks and design rights, the results show that increases in trademark stocks are the most influential factor in economic growth.

User Note

12 May 2015, 16th International Academic Conference, Amsterdam