Intellectual property rights are monopoly rights, which have undesirable welfare properties. Therefore, several studies suggest using rewards as incentives for innovation instead. However, these studies have thus far had little effect on actual policy, possibly because such rewards may be...

The integrated circuit (IC) industry's role in promoting sustained economic growth makes it highly valued by governments worldwide. Based on the late-mover advantage and market failure theories, this study demonstrates the importance of government intervention in industrial technological...

Investments in advanced manufacturing technologies are expected to generate substantial gains for firms. The aim of this work is to evaluate the nature and extent of such gains. We use information on the ''Nuova Sabatini'' subsidy - an important policy measure adopted in Italy over the last few...

Since the emergence of information technology, the integrated circuit industry has been a major contributor to sustained economic expansion. This paper proposes a theoretical model premised on the pertinent theories of technological progress in late-mover countries and concludes that it is...