Abstract
We analyze the impact of intellectual property rights (IPR) reform on patenting in emerging economies. Building on the institutional view of the firm, we argue that IPR reform has a positive impact on both domestic and foreign patent applications because it increases the transparency, credibility, consistency, and ease of patenting for both types of inventors. However, we propose that a democratic political system reinforces the effect of IPR reform on foreign but not domestic patent applications, whereas a strong legal system heightens the impact of IPR reform on domestic but not foreign patent applications. The analyses of a panel of 501 patent applications in 18 countries from 1967-2009 provide support for these arguments.
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