The New Economy in East Asia and the Pacific

By Peter Drysdale | Go to book overview

8

Intellectual property protection and capital markets in the new economy

Keith E. Maskus


INTRODUCTION

The global economy continues to see considerable progress in the development and use of technologies and products characterising the so-called 'new economy'. In such areas as computer software, personal computers, electronic commerce, internet transmission of digital products, telecommunications, compilation of databases and biogenetics, innovation has at its core the development and use of information. Information is often costly to produce but is essentially a public good: non-rival and difficult to exclude without legal protection. Thus, intellectual property rights (IPRs)-patents, copyrights, trademarks, trade secrets, and related devices-have become a central issue in countries that wish to promote such innovation.

The existence or prospect of the exclusive rights awarded by IPRs can be important in determining the ability of entrepreneurs and firms to attract capital for their R&D and expansion programs. In advanced innovation systems there is an important complementarity between capital spending (including R&D) and the protection of new technology and market positions through IPRs. However, while IPRs promote innovation and encourage commercialisation of new information products, they also support market exclusivity that can restrict access to consumers and limit competition by rival enterprises. In that context, excessive protection for intellectual property can distort capital allocation and retard productivity growth.

As always in the IPR area, there is a tradeoff between encouraging invention through protected market positions and promoting access to new information and innovative competition by rival firms. For countries of East Asia and the Pacific region, it is not easy to strike the right balance between strong protection, favouring original innovators, and limited protection, favouring imitation and access. The interests of Japan, Malaysia and Vietnam are as different from one another as are those of the United States, Mexico and Guatemala. A 'one-size-fits all' approach in the Asia Pacific region might lead to some rationalisation gains from policy similarity, but is unlikely to meet the needs of all countries.

-203-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this book

This book has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this book

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited page

Bookmark this page
The New Economy in East Asia and the Pacific
Table of contents

Table of contents

Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
/ 326

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.