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Cross-Border Property Rights and the Globalization of Innovation

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  • Bian, Bo
  • Meier, Jean-Marie
  • Xu, Ting
Abstract
We identify strong cross-border property rights as a driver for the globalization of innovation. Using 67 million patents from over 100 patent offices, we construct novel measures of the three stages of innovation diffusion: adoption, sourcing, and collaboration. Exploiting staggered bilateral investment treaties (BITs) as shocks to cross-border property rights, we show that signatory countries increase technology adoption and sourcing from each other; they also increase R&D collaborations. The results are particularly strong for countries with weak domestic institutions and technologies with high imitation risks. Increases in R&D-related foreign investments explain most of the results.

Suggested Citation

  • Bian, Bo & Meier, Jean-Marie & Xu, Ting, 2025. "Cross-Border Property Rights and the Globalization of Innovation," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 60(5), pages 2159-2193, August.
    • Handle: RePEc:cup:jfinqa:v:60:y:2025:i:5:p:2159-2193_3
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