Intellectual property rights affect the pattern of trade
Disagreements over intellectual property rights policies have been a major roadblock in recent trade agreement talks, and the issue has also been a pillar of critiques of globalisation. This column discusses new research that matches confidential, comprehensive data on firm patenting and trade behaviour for the first time. It shows that, all else equal, firms who hold patents in the US are significantly more likely to export to countries that better protect intellectual property rights.
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