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http://eprints.org/relation/isVersionOf https://vuir.vu.edu.au/id/dark_document/56161 http://eprints.org/relation/isVolatileVersionOf https://vuir.vu.edu.au/id/dark_document/56161 http://eprints.org/relation/issmallThumbnailVersionOf https://vuir.vu.edu.au/id/dark_document/56161 archive 34 disk0/00/00/01/06 2005-10-20 2021-08-27 07:38:37 2008-08-19 18:54:29 monograph show Messinis George 0000-0002-2484-9522 pub 320000 FOR_2008_111500 cses Europe; pharmaceuticals; joint ventures; patent quality; productivity; pharmaceutical industry Has the USA overtaken Europe as the powerhouse of new medicines? If so, is this attributable to a flight of business expenditure in R&D to the USA? This paper answers these questions using a methodology that focuses on R&D productivity and patent quality as key indicators of innovation, accounts for R&D price inflation, and examines the role of both 'performed' R&D and 'extra-mural' R&D. The study provides three new insights: (a) the USA has outperformed Europe in R&D productivity but this is due to Europe's superior performance in sales and patent quality; (b) government expenditure on R&D and extra-mural R&D stimulate international patent collaboration, and (c) the latter is a crucial determinant of patent quality. 2005-09 submitted Victoria University No. 30 56161 2 2385668 dark_document 56161 Messinis George.pdf application/pdf 576c3b019f5e6112a1449002bfeadfc3 MD5 75089 2020-07-21 01:55:38 106 3 3 application/pdf text Submission & Permission Form en staffonly

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other public working_paper Melbourne, Australia 37 Victoria University Centre for Strategic Economic Studies . FALSE