The effect of Intellectual Property Protection on Economic Growth

This paper aims to study the relationship between intellectual property and patent and economic growth in Islamic countries for the period of 1990 – 2010. This theoretical basis of the model is constructed on economic growth models in 1990s. The technique which we employed is the index of patents to measure the impact on economic growth. To analysis this relationship we use “Pedroni Cointegration” method and FMOLS estimation. The results indicate that intellectual property and protection of patent has a positive and significant impact on economic growth. Furthermore، it has been found a casual relationship between degree of economic openness، ICT، human development and economic growth. Hence، we conclude that the more protection of intellectual property the more economic growth.