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Home | News | Economists back IP as a tool for economic development
Economists back IP as a tool for economic development
Friday, 28 November 2003A group of leading economists have agreed on the potential for intellectual property (IP) to act as a powerful tool for economic development.
The economists, who have met with officials of the World Intellectual Property Organization (WIPO) responsible for advising member states on the integration of IP into economic policies, have also suggested that IP rights have the potential to affect economic growth in numerous ways in todays knowledge-based economy.
The delegates believe that IP development has particular economic implications in relation to trade, foreign direct investment, research and development and investment in human capital.
The experts are now calling for WIPO to provide comprehensive and comparable data across countries on the domestic use of IP rights and to analyse the underlying characteristics of nations that support innovation to assess the impact of IP on economic growth.
The meeting was aranged within the framework of WIPOs ongoing efforts to provide policy-makers with advice on the integration of IP into macro-economic policies, a process that requires extensive analysis of reliable data on the linkage between IP and economic development.
The use of IP as a tool to promote economic, social and cultural development is an issue of growing importance, particularly in developing nations.
Since he took office six years ago, WIPO director general Dr. Kamil Idris has consistently emphasized the need for better understanding of the positive impact of IP on economic growth.
The economists, who have met with officials of the World Intellectual Property Organization (WIPO) responsible for advising member states on the integration of IP into economic policies, have also suggested that IP rights have the potential to affect economic growth in numerous ways in todays knowledge-based economy.
The delegates believe that IP development has particular economic implications in relation to trade, foreign direct investment, research and development and investment in human capital.
The experts are now calling for WIPO to provide comprehensive and comparable data across countries on the domestic use of IP rights and to analyse the underlying characteristics of nations that support innovation to assess the impact of IP on economic growth.
The meeting was aranged within the framework of WIPOs ongoing efforts to provide policy-makers with advice on the integration of IP into macro-economic policies, a process that requires extensive analysis of reliable data on the linkage between IP and economic development.
The use of IP as a tool to promote economic, social and cultural development is an issue of growing importance, particularly in developing nations.
Since he took office six years ago, WIPO director general Dr. Kamil Idris has consistently emphasized the need for better understanding of the positive impact of IP on economic growth.