Lecture title：Blocking Patents, Rent Protection, and Economic Growth

Time: 14:00-15:30 p.m. on Thursday, December 15

Place: # Tencent Conference: 342-726-894

Reporter: Assistant Professor Yang Yibo, University of Macau

Introduction to the keynote speaker:

Yang Yibo, assistant professor of the Department of Economics of the University of Macau, doctoral supervisor, associate editor of Economic Modelling, and doctor of economics of the University of Sydney, Australia. The main research directions are economic growth, innovation, intellectual property, monetary economics, fiscal policy, etc. At present, 14 papers have been published in SSCI/CSCI journals, including Review of Economic Dynamics, Journal of Money, Credit and Banking, European Economic Review, Macroeconomic Dynamics, Economics Letters, Economic Research and other top or authoritative journals at home and abroad.

Introduction to the report:

This paper constructs a Schumpeter growth model to analyze the interaction between the public provision of intellectual property rights and the internal allocation strategy of enterprises, and understand the value of innovation. We consider two dimensions of patent policy: backward protection against imitation and forward protection against subsequent innovation (called obstructive patents). Existing patent holders invest resources to prevent innovative competitors from entering the market to protect their monopoly profits. This paper shows that patent policy affects economic growth by influencing the R&D incentives of potential innovators and the rent protection incentives of existing enterprises after innovation. The analysis of this paper finds a new role of forward protection in promoting growth; By ensuring that existing enterprises share the profits of future innovators, forward protection reduces the motivation to actively hinder subsequent innovation. In addition, this paper explores the results of this mechanism in several alternative model specifications.

(Undertaken by: Department of International Trade and Finance, Digital Economy Innovation Research Center of Yangtze River Delta Research