IP-Intensive Manufacturing Industries Drive Economic Growth
September 2017 | Nam D. Pham, Ph.D.
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Recent R&D and economic data across industries once again confirm the crucial role of innovation on long-term economic productivity and growth. IP-intensive industries outperformed non-IP intensive industries across key economic measures. Workers in innovative industries disproportionately create more economic value and earn higher wages than their counterparts in other manufacturing industries. IP-intensive industries cut less jobs during the economic downturn and added more jobs during the economic recovery than their counterparts non-IP-intensive industries. Given intellectual property (IP) rights and protections foster innovation, public policies should focus on ensuring robust IP rights and protections.