Protection of intellectual property rights (IPRs) serves a dual role in economic development. While it promotes innovation by providing legal protection of inventions, it may retard catch-up and learning by restricting the diffusion of innovations. Does stronger IPR protection in a developing country encourage technology development in or technology transfer to that country? This book aims to address the issue, covering diverse forms of IPRs, diverse actors in innovation, and diverse cases from Asia and Latin America.

Economics of Research and Development is a collection of the major readings in the development of this topic, from its origins in the work of Kenneth Arrow, Robert Solow, and Zvi Griliches to present day concerns with the financing of R&D and measurement of its returns. Topics covered include historical perspectives, market structure and the various ways R&D is conducted, the role of venture capital and government incentives, the measurement of R&D returns including spillovers to other firms or countries and the contribution of R&D to economic growth. The volume serves as an invaluable...