Spillovers and the competitive pressure for long-run innovation

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3 Citations (Scopus)

Abstract

This paper discusses the impact of oligopolistic product markets for innovation and growth, highlighting a novel, fundamental role of spillovers. We develop a model of endogenous growth with non-tournament R&D, where spillovers raise the relative R&D efficiency of laggards. A key feature is that the rate of innovation and the market configuration (i.e. the distribution of market shares) are jointly determined. Our results emphasize the role of spillovers in sustaining the competitive pressure that is fundamental for long-run innovation and economic growth.

Original languageEnglish
Pages (from-to)589-610
Number of pages22
JournalEuropean Economic Review
Volume52
Issue number4
DOIs
Publication statusPublished - 1 May 2008

Keywords

  • Growth
  • Market structure
  • Technological change

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