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Market Structure and the Growth Process

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  • Philippe Aghion

    (Department of Economics, University College London)

  • Peter Howitt

    (Department of Economics, Ohio State University)

Abstract

Recent empirical work has pointed to a positive correlation between product market competition and productivity growth. In this lecture we try to reconcile this evidence with the Schumpterian growth paradigm. Three alternative explanations are successively considered, respectively based upon agency considerations, the tacit nature of knowledge, and the decomposition of R and D activities into research and development. (Copyright: Elsevier)

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File URL: http://dx.doi.org/10.1006/redy.1997.0007
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Bibliographic Info

Article provided by Elsevier for the Society for Economic Dynamics in its journal Review of Economic Dynamics.

Volume (Year): 1 (1998)
Issue (Month): 1 (January)
Pages: 276-305

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Handle: RePEc:red:issued:v:1:y:1998:i:1:p:276-305

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References

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  1. Aghion, P. & Howitt, P., 1989. "A Model Of Growth Through Creative Destruction," Working papers, Massachusetts Institute of Technology (MIT), Department of Economics 527, Massachusetts Institute of Technology (MIT), Department of Economics.
  2. Mathias Dewatripont & Philippe Aghion & Patrick Rey, 1999. "Competition, financial discipline and growth," ULB Institutional Repository, ULB -- Universite Libre de Bruxelles 2013/9619, ULB -- Universite Libre de Bruxelles.
  3. Stephen Nickell, 1993. "Competition and Corporate Performance," CEP Discussion Papers, Centre for Economic Performance, LSE dp0182, Centre for Economic Performance, LSE.
  4. Philippe Aghion & Peter Howitt, 1997. "Endogenous Growth Theory," MIT Press Books, The MIT Press, The MIT Press, edition 1, volume 1, number 0262011662, December.
  5. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, Elsevier, vol. 3(4), pages 305-360, October.
  6. Aghion, Philippe & Howitt, Peter, 1996. " Research and Development in the Growth Process," Journal of Economic Growth, Springer, Springer, vol. 1(1), pages 49-73, March.
  7. Segerstrom, Paul S & Anant, T C A & Dinopoulos, Elias, 1990. "A Schumpeterian Model of the Product Life Cycle," American Economic Review, American Economic Association, American Economic Association, vol. 80(5), pages 1077-91, December.
  8. Richard Blundell & Rachel Griffith & John Van Reenen, 1994. "Dynamic count data models of technological innovation," IFS Working Papers, Institute for Fiscal Studies W94/10, Institute for Fiscal Studies.
  9. Ricardo J. Caballero & Adam B. Jaffe, 1993. "How High are the Giants' Shoulders: An Empirical Assessment of Knowledge Spillovers and Creative Destruction in a Model of Economic Growth," NBER Chapters, National Bureau of Economic Research, Inc, in: NBER Macroeconomics Annual 1993, Volume 8, pages 15-86 National Bureau of Economic Research, Inc.
  10. Aghion, Philippe & Harris, Christopher & Vickers, John, 1997. "Competition and growth with step-by-step innovation: An example," European Economic Review, Elsevier, Elsevier, vol. 41(3-5), pages 771-782, April.
  11. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
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Citations

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Cited by:
  1. Pier Paolo Patrucco, 2003. "Institutional Variety, Networking and Knowledge Exchange: Communication and Innovation in the Case of the Brianza Technological District," Regional Studies, Taylor & Francis Journals, Taylor & Francis Journals, vol. 37(2), pages 159-172.
  2. Alberto Bucci & Carmelo Parello, 2006. "Horizontal Innovation-Based Growth and Product Market Competition," UNIMI - Research Papers in Economics, Business, and Statistics, Universitá degli Studi di Milano unimi-1032, Universitá degli Studi di Milano.
  3. Bucci, Alberto & Fiorillo, Fabio & Staffolani, Stefano, 2001. "Can Market Power influence Employment, Wage Inequality and Growth ?," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales), Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) 2000030, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
  4. Philip Kostov & John Lingard, 2004. "Block-diagonal representation of a dualistic agricultural economy and its application in formal modelling: the case of Bulgaria," Computational Economics, EconWPA 0409001, EconWPA.
  5. Canton, Erik J. F. & de Groot, Henri L. F. & Nahuis, Richard, 2002. "Vested interests, population ageing and technology adoption," European Journal of Political Economy, Elsevier, Elsevier, vol. 18(4), pages 631-652, November.
  6. Furceri, Davide & Karras, Georgios, 2007. "Country size and business cycle volatility: Scale really matters," Journal of the Japanese and International Economies, Elsevier, vol. 21(4), pages 424-434, December.
  7. Alberto BUCCI, 2004. "Human capital, product market power and economic growth," Departmental Working Papers, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano 2004-21, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
  8. Alberto BUCCI, 2004. "An inverted-U relationship between product market competition and growth in an extended Romerian model," Departmental Working Papers, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano 2004-26, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
  9. Alberto BUCCI, 2002. "Market Power, Human Capital and Growth," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales), Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) 2002012, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
  10. Alberto Bucci, 2003. "R&D, imperfect competition and growth with human capital accumulation," Departmental Working Papers, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano 2003-11, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
  11. Canton, E.J.F. & Groot, H.L.F. de & Nahuis, R., 1999. "Vested Interests and Resistance to Technology Adoption," Discussion Paper, Tilburg University, Center for Economic Research 1999-106, Tilburg University, Center for Economic Research.
  12. Jose E. Galdon Sanchez & James A. Schmitz, Jr., 1999. "Threats to industry survival and labor productivity: world iron-ore markets in the 1980's," Staff Report, Federal Reserve Bank of Minneapolis 263, Federal Reserve Bank of Minneapolis.

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