Tickets to the global market: First US patent award and Chinese firm exports

• 成果类型: Article
• 署名作者: Gong, Robin Kaiji; Li, Yao Amber; Manova, Kalina; Sun, Stephen Teng
• 署名单位: Hong Kong University of Science & Technology; Hong Kong University of Science & Technology; University of London; University College London; City University of Hong Kong; City University of Hong Kong
• 刊物名称: JOURNAL OF INTERNATIONAL ECONOMICS
• ISSN/ISSBN: 0022-1996
• DOI: 10.1016/j.jinteco.2025.104124
• 发表日期: 2025
• 关键词: Patent rights; INNOVATION; Export performance; TRADE; Market protection; asymmetric information; signaling

摘要

We investigate how international patent activity enables firms from emerging economies to thrive in the global marketplace. We match Chinese customs data to US patent records, and leverage the quasi-random assignment of USPTO patent examiners to identify the causal effect of a US patent grant on the subsequent export performance of Chinese firms. Successful first-time patent applicants achieve significantly higher export growth, compared to otherwise similar first-time applicants that failed. This effect operates only in small part through market protection for technologically patent-related products in the US, and is largely driven by expansion in other markets. The response across destinations and products reveals that a US patent award signals the Chinese firm's capacity to produce high-quality products and credibility to honor contracts, mitigating information frictions in international trade. There is little evidence for the relaxation of financial constraints or the promotion of follow-on innovation.