Whether Intellectual Property Protection Improve Regional Innovation Capital Misallocation or Not
The paper explores the impact of intellectual property protection on regional innovation capital misallocation and its mechanism of action from the dual perspective of innovative technology development systems and innovative technology transformation systems,and empirical tests are conducted based on 30 provincial panel data in China from 2004 to 2021.The results are as follows.①There is an ameliorating effect of intellectual property protection on regional innovation capital misallocation,and this ameliorating effect gradually increases over time.②The difference in the direction of innovation capital mismatch affects the study results,and intel-lectual property protection exacerbates the degree of regional innovation capital misallocation in regions with excessive innovation capital allocation.③The ameliorating effect of intellectual property protection on regional innovation capital misallocation is greater as the loca-tion of technology moves forward.④The action mechanism shows that intellectual property protection improves regional innovation capital misallocation through the technology market governance effect,technology market expansion effect,and innovation capacity enhance-ment effect.The results provide empirical evidence and decision-making reference for promoting the intellectual property system and opti-mizing the allocation of innovation resources.
Intellectual property protectionInnovation capital misallocationMarket distortion