Market Power and Aggregate Economic Growth in Models with Endogenous Technological Change
AbstractThis paper overviews the main interactions between product market competition and long-run growth. We start with the first generation of R&D-based growth models and keep distinct the vertical from the horizontal differentiation approaches. Our main objective here is to study why these two branches of the same literature give different predictions as for the long-run relationship between competition and growth. Next, we introduce the second generation of R&D-based growth models and analyse the way they reconcile the Schumpeterian paradigm with the Darwinian view. Finally, we review the literature that endogenises the markups and the one that eliminates the scale-effects prediction.
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Bibliographic InfoArticle provided by GDE (Giornale degli Economisti e Annali di Economia), Bocconi University in its journal Giornale degli Economisti e Annali di Economia.
Volume (Year): 62 (2003)
Issue (Month): 2 (October)
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Find related papers by JEL classification:
- D43 - Microeconomics - - Market Structure and Pricing - - - Oligopoly and Other Forms of Market Imperfection
- L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
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- Alberto Bucci, 2003.
"R&D, imperfect competition and growth with human capital accumulation,"
Departmental Working Papers
2003-11, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
- Alberto Bucci, 2003. "R&D, Imperfect Competition and Growth with Human Capital Accumulation," Scottish Journal of Political Economy, Scottish Economic Society, vol. 50(4), pages 417-439, 09.
- Scopelliti, Alessandro Diego, 2009.
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- Alberto BUCCI, 2004.
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Departmental Working Papers
2004-26, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
- Alberto Bucci, 2005. "An Inverted-U Relationship between Product Market Competition and Growth in an Extended Romerian Model," Rivista di Politica Economica, SIPI Spa, vol. 95(5), pages 177-206, September.
- Alberto BUCCI, 2004. "Human capital, product market power and economic growth," Departmental Working Papers 2004-21, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
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