Product Market Reform and Innovation in the EU
AbstractEuropean Union countries have implemented widespread reforms to product markets to stimulate competition, innovation, and economic growth. We provide empirical evidence that the reforms carried out under the EU Single Market Programme (SMP) were associated with increased product market competition, as measured by a reduction in average profitability, and with a subsequent increase in innovation intensity and productivity growth for manufacturing sectors. Our analysis exploits exogenous variation in the expected impact of the SMP across countries and industries to identify the effects of reforms on average profitability, and the effects of profitability on innovation and productivity growth. Copyright © The editors of the "Scandinavian Journal of Economics" 2010 .
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Scandinavian Journal of Economics.
Volume (Year): 112 (2010)
Issue (Month): 2 (06)
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Web page: http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1467-9442
Other versions of this item:
- Griffith, R & Harrison, R & Simpson, H, 2006. "Product market reform and innovation in the EU," Open Access publications from University College London http://discovery.ucl.ac.u, University College London.
- Griffith, Rachel & Harrison, Rupert & Simpson, Helen, 2006. "Product Market Reform and Innovation in the EU," CEPR Discussion Papers 5849, C.E.P.R. Discussion Papers.
- Rachel Griffith & Rupert Harrison & Helen Simpson, 2006. "Product market reform and innovation in the EU," IFS Working Papers W06/17, Institute for Fiscal Studies.
- L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
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