What Does China’s Rise in Patents Mean? A Look at Quality vs. Quantity
Abstract: Using three measurements of patent quality, we argue that there is still room for China to improve its innovative activities. Comparing the number of patent applications and patent grants across countries, we see that although the United States and Japan have been global leaders in innovation for a long time, South Korea and China are catching up fast. If China sustains its large innovation investment and shifts its focus from quantity to quality, together with an improvement in intellectual property rights, the likelihood of becoming one of the next innovation leaders could be much higher.
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Provider: Federal Reserve Bank of St. Louis
Part of Series: Economic Synopses
Publication Date: 2018