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On the Macroeconomic Effects of Establishing Tradability in Weak Property Rights

PublikationArtikel (med peer review)
Äganderätt, Clas Wihlborg, Företagandets villkor, Gunnar Eliasson, Joseph Schumpeter, Patent, Rättsekonomi

Sammanfattning

The New Economy is closely associated with computing & communications technology, notably the Internet. We discuss property rights to, and trade in, the difficult-to-define intangible assets increasingly dominating the New Economy, and the possibility of under-investment in these assets. For a realistic analysis we introduce a Schumpeterian market environment (the experimentally organized economy). Weak property rights prevail when the rights to access, use, andtrade in intangible assets cannot be fully exercised. The trade-off between the benefits of open access on the Internet, and the incentive effects of strengthened property rights, depend both on the particular strategy a firm employs to secure property rights, and the protection offered by law. Economic property rights can be strengthened if the originator can find innovative ways to charge for the intangible assets. The extreme complexity of the New Economy and the large number of possible innovative private contract arrangements make it more important to facilitate the use and enforcement of private individualized contracts to protect intellectual property than to rely only on standard patent and copyright law. Enabling law is one proposed solution. Current patent legislation in the US has led to costly litigation processes weakening the position of small firms and individuals in patent disputes. The property rights of such firms and individuals could be strengthened with insurance or arbitration procedures.

Eliasson, G. & Wihlborg, C. (2003). ”On the Macroeconomic Effects of Establishing Tradability in Weak Property Rights.”Journal of Evolutionary Economics, 13(5): 607-632.


Liknande innehåll

Less from more: China built wind power, but gained little electricity.
BokkapitelPublikation
Grafström, J.
Publiceringsår

2022

Publicerat i

Questioning the Entrepreneurial State, 219.

Sammanfattning

This chapter investigates Chinese wind power development and concludes that innovation cannot be pushed by the efforts of many, and that when the state clarifies directions and objectives, these can be achieved but with severe and unexpected side effects. Two topics are explored: wind curtailment and low technological development, both examples of unproductive entrepreneurship induced by government policies. The goal of wind power capacity expansion leads to construction (i.e., generation capacity) but little electricity. Examples of failures include low grid connectivity with, some years averaging 15% of generation capacity broken or unconnected to the grid. A key lesson for Europe is that forced innovation often amounts to little and that the old saying holds up: “no plan survives contact with reality.”

The book can be downloaded here.

Ratio Working Paper No. 351: Knowledge Spillovers in the Solar energy sector
Working paperPublikation
Grafström, J.
Publiceringsår

2021

Publicerat i

Ratio.

Sammanfattning

The purpose of this paper is to provide an analysis of the existence and possible direction of international knowledge spillovers in the solar energy sector. Specifically, the paper investigates how the accumulation of solar energy patents and public R&D spending affected the output of domestic granted solar energy patents. The econometric analysis relies on a data set consisting of most of the OECD countries plus China and analyzes two time periods; from 1990 to 2014 and the years 2000 to 2014. To analyze the data material, a Poisson fixed-effects estimator based on the Hausman, Hall and Griliches (1984) method was used. The empirical findings suggest that the domestic accumulation of patents and R&D is important for the potential development of new ones. Indeed, early investment in specific technology can be an indicator of future leadership in that field.

The Effect of Marshallian and Jacobian Knowledge Spillovers on Jobs in the Solar, Wind and Energy Efficiency Sector
Artikel (med peer review)Publikation
Aldieri, L., Grafström, J., & Vinci, C. P.
Publiceringsår

2021

Publicerat i

Energies, 14(14), 4269.

Sammanfattning

The purpose of this paper is to establish if Marshallian and Jacobian knowledge spillovers affect job creation in the green energy sector. Whether these two effects exist is important for the number of jobs created in related fields and jobs pushed away in other sectors. In the analysis, the production efficiency, in terms of jobs and job spillovers, from inventions in solar, wind and energy efficiency, is explored through data envelopment analysis (DEA), based on the Malmquist productivity index, and tobit regression. A panel dataset of American and European firms over the period of 2002–2017 is used. The contribution to the literature is to show the role of the spillovers from the same technology sector (Marshallian externalities), and of the spillovers from more diversified activity (Jacobian externalities). Since previous empirical evidence concerning the innovation effects on the production efficiency is yet weak, the paper attempts to bridge this gap. The empirical findings suggest negative Marshallian externalities, while Jacobian externalities have no statistical impact on the job creation process. The findings are of strategic importance for governments who are developing industrial strategies for renewable energy.

Aldieri, L., Grafström, J., & Vinci, C. P. (2021). The Effect of Marshallian and Jacobian Knowledge Spillovers on Jobs in the Solar, Wind and Energy Efficiency Sector. Energies, 14(14), 4269.

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