INTELLECTUAL PROPERTY RIGHTS AND ECONOMIC GROWTH: EVIDENCES FROM HIGH, MIDDLE AND LOW INCOME COUNTRIES

The protection of intellectual property rights has been considered as an engine of economic growth in developed and developing economies. In this study, we analyze the impact of intellectual property rights on economic growth for a balanced panel of 38 countries (11 from high income countries; 16 from middle income countries; and 11 from low income countries) over the period of 1975-2005 by utilizing Ginarte and Park Index of Intellectual Property Rights (2005). The empirical results reveal that intellectual property rights contribute significantly to economic growth. But the impact is found to be more significant in high income countries as compared to middle and low income countries. Similarly, the effect is stronger in case of upper middle income countries as compared to lower middle income and low income countries.