This study aims to analyze the impact of the patent pendency time on the Balanced Growth Path (BGP). We assume that during the pendency time the innovative agents face an uncertainty period, which affects the R&D efforts. To operate our assumptions we use the schumpeterian endogenous growth model based in Grossman e Helpman (1991a,b) and Aghion e Howitt (1992). Our results show that the pendency time has a negative impact on growth and welfare, so that a longer delay for the patent decision increases the growth loss. This suggests the implementation of policies to reduce efficiently the patent examination time.
