In this paper, we investigate how strengthening patent protection affects economic growth in an endogenous growth model where both innovation and capital accumulation are the driving forces of economic growth. In this model, stronger patent protection raises the profit flow obtained by...

This paper examines the welfare-maximizing degree of patent protection in a growth model where the engines of economic growth are R&D and public services. The result shows that if public services are small, the welfare-maximizing level of patent protection is weaker.