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Economic Letters
ISSN : 0165-1765

The struggle to survive in the R&D sector: Implications for innovation and growth


Yuichi Furukawa | School of Economics, Chukyo University

Vol.121 No.1 , pp.39 ~ 42



By allowing for investment activities by research and development (R&D) firms to prevent product obsolescence, we show that if legal patent protection is too strong, a higher R&D subsidy rate delivers insufficient investments for survival in the R&D sector, depressing innovation and growth in the long run.