Year of Publication

2017

College

Martin School of Public Policy and Administration

Committee Chair

Dr. J. S. Butler

Executive Summary

Intellectual property is drawing attention as an important policy tool to lower the unemployment rate in low-growth economies. The Korean Intellectual Property Office (KIPO) provides services that facilitate companies to effectively create intellectual property by operating local intellectual property support centers in connection with local governments. In this context, this research examine how the differences of intellectual property registration affect provincial unemployment rates by analyzing 10 years (2006-2015) of panel data with a fixed-effects regression model. According to my estimation results, intellectual property registrations have a statistically significant impact on provincial unemployment rates in South Korea. Since the reduction of unemployment rate is an important task for the reelection of the provincial governor, these results may suggest that the local governments should reconsider the weight of the IPR policy as a crucial part of job creation strategies for the local economy. In this regard, local governments need to establish their own strategies to facilitate the creation of intellectual properties in line with the characteristics of local industries and the comprehensive innovation strategy of the region.

Furthermore, in order to assess the genuine impact of intellectual property, it is necessary for government agencies related to statistics, employment, and intellectual property to cooperate and conduct systematic long-term follow-up research on how the firms raise performance and employment with registered intellectual property over time.

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