show the impacts of technology licensing on FDI and welfare. Licensing substitutes FDI, and the effects of lower trade cost … are ambiguous on the home country welfare and the host country welfare in presence of licensing. Whether, for a given … trade cost, licensing (compared to no licensing) increases welfare is also ambiguous …

(RJV), non-cooperative RJV and licensing. In the cooperative (non-cooperative) RJV, the firms (do not) internalize R …&D spillovers. We show that, for the domestic firm, the cooperative RJV dominates and licensing is the least desirable alternative …. Although licensing is dominant for the foreign firm, it is not implementable. Both RJVs are implementable. While the non …

that it provides them with respect to exhaustion policies and the use of compulsory licensing—be reconciled with existing …