DOES ENFORCEMENT OF INTELLECTUAL PROPERTY RIGHTS MATTER IN CHINA? EVIDENCE FROM FINANCING AND INVESTMENT CHOICES IN THE HIGH-TECH INDUSTRY

• 成果类型: Article
• 署名作者: Ang, James S.; Cheng, Yingmei; Wu, Chaopeng
• 署名单位: State University System of Florida; Florida State University; Xiamen University
• 刊物名称: REVIEW OF ECONOMICS AND STATISTICS
• ISSN/ISSBN: 0034-6535
• DOI: 10.1162/REST_a_00372
• 发表日期: 2014-05
• 页码: 332-348
• 关键词: economic-growth; panel-data; INNOVATION; PROTECTION; banks; LAW; gmm

摘要

Using a unique and rich database of high-technology firms in China, we show that effective enforcement of intellectual property rights at the provincial level is critical in encouraging financing and investing in R&D. Better enforcement of intellectual property (IP) rights positively affects firms' ability to acquire new external debt and allows firms to invest in more R&D, generate more innovation patents, and produce more sales from new products. Our results suggest that facilitating financing and investing in R&D are the channels through which better IP rights enforcement can affect economic growth.