Prior research shows long-run productivity growth in agriculture is associated with increases in the stock of public scientific knowledge and private patented inventions. However, private inventions may be a function of the stock of public knowledge. In this paper, we examine the possibility...

Prior research shows long-run productivity growth in agriculture is associated with increases in the stock of public scientific knowledge and private patented inventions. However, private inventions may be a function of the stock of public knowledge. In this paper, we examine the possibility...

Intellectual property rights such as patents protect new inventions from imitation and competition. Patents' major objective is to provide incentives for invention, sacrificing short-term market efficiency for long-term economic gains. Although patents are primarily granted to private firms,...