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Intellectual Property Rights and Entry into a Foreign Market: |
Leahy and Naghavi |
Review of
International Economics 2010 |
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The role of multinational enterprises (MNEs) in the global economy is increasingly important. Foreign investment by MNEs can take several forms: FDI, licensing, acquisition, or joint venture (JV). The purpose of this paper is to ask whether FDI or JV is MNEs prefer under different circumstances and whether their preferred market structure can be an equilibrium outcome. In addition, it shows that strengthening the IPR regime can encourages JVs and with it technology transfer. This paper is the first theoretical paper to looks at IPR issues surrounding JVs. |
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l This paper study the effect of the intellectual property rights (IPR) regime of a host country on MNE¡¦s entry mode (JV or FDI). l
Entering
a JV increases the exposure of the MNE¡¦s technology to imitation. l
JV
is the equilibrium market structure when R&D intensity is moderate and
IPRs strong. l
If
Northern firm has all the bargaining power and IPRs are fully protected then
a JV will be inferior to direct FDI from the point of view of Southern
welfare. l
If
S firm owns all the bargaining power and the level of R&D effectiveness
is above a threshold level, the welfare under JV is higher than that under
FDI. |
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