Traditional economists or third worldists? the effect of intellectual property rights on economic growth in developing countries

Abstract

This study investigates the effect of Intellectual Property Rights (IPRs) on economic growth in 76 developing countries using panel data analysis over the period of 2008-2019. IPRs and the economic growth relationship have been discussed in the empirical literature. On the other hand, Third World Approach to International Law (TWAIL) scholars promote the idea that international law is a hegemonic tool of developed countries, and IPRs may be subjected to their arguments due to the Trade-Related Aspects of Intellectual Property Agreements (TRIPs). Results provide that IPRs positively and significantly affect economic growth in developing countries, whereas there is no U-Shaped relationship between them. The study suggests that IPRs protection should be highlighted in developing countries to achieve greater economic growth, and approves the perspective of traditional economists’ approach over TWAILers.