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The link between product market reform, innovation and EU macroeconomic performance

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Author Info

  • Rachel Griffith
  • Rupert Harrison
  • Helen Simpson

Abstract

This report analyses the impact of product market reforms, in the form of the EU Single Market Programme, on the extent of product market competition and the subsequent effects of competition on innovation activity and productivity growth.The report first summarises the main messages from the existing theoretical and empirical literature on the relationship between competition and innovation and uses this to inform the subsequent empirical analysis. The theoretical literature on competition and growth emphasises the importance of economic profits, or rents, in providing incentives for firms to innovate to compete for market position or in order to enter new markets. Increased competition may increase incentives for firms to increase efficiency or to innovate in order to protect or enhance their market position. However, competition may reduce the rewards to innovation or entry into a market and thus discourage these activities.

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File URL: http://ec.europa.eu/economy_finance/publications/publication12594_en.pdf
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Bibliographic Info

Paper provided by Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission in its series European Economy - Economic Papers with number 243.

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Length: 124 pages
Date of creation: Feb 2006
Date of revision:
Handle: RePEc:euf:ecopap:0243

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Related research

Keywords: product market reform; macroeconomic performance; Single Market Program; innovation activity; productivity growth; Griffith; Harrison; Simpson;

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Citations

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Cited by:
  1. Omar Licandro & Antonio Navas-Ruiz, 2007. "Trade liberalization, competition and growth," Economics Working Papers we076536, Universidad Carlos III, Departamento de Economía.
  2. Crafts, Nicholas, 2011. "British Relative Economic Decline Revisited," CEPR Discussion Papers 8384, C.E.P.R. Discussion Papers.
  3. Navas, Antonio, 2010. "La Apertura al Comercio Exterior y sus Efectos sobre la Productividad en Presencia de Diferencias Intersectoriales," Working Papers in Economic Theory 2010/04, Universidad Autónoma de Madrid (Spain), Department of Economic Analysis (Economic Theory and Economic History).
  4. Ugur, Mehmet & Guner, Umit, 2010. "Innovation and competition in EU15: Empirical evidence on the Lisbon Decade and beyond," MPRA Paper 25705, University Library of Munich, Germany, revised Oct 2010.
  5. Scopelliti, Alessandro Diego, 2009. "Competition and Economic Growth: an Empirical Analysis for a Panel of 20 OECD Countries," MPRA Paper 20127, University Library of Munich, Germany.
  6. Gaëtan Nicodème & Jacques-Bernard Sauner-Leroy, 2007. "Product Market Reforms and Productivity: A Review of the Theoretical and Empirical Literature on the Transmission Channels," Journal of Industry, Competition and Trade, Springer, vol. 7(1), pages 53-72, March.
  7. Anabel Zárate-Marco & Jaime Vallés-Giménez, 2012. "The cost of regulation in a decentralized context: the case of the Spanish regions," European Journal of Law and Economics, Springer, vol. 33(1), pages 185-203, February.
  8. Antonio Navas Ruiz, 2012. "Asymmetric trade liberalization, sector heterogeneity and industry productivity growth," Working Papers. Serie AD 2012-09, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  9. Pammolli, Fabio & Cambini, Carlo & Giannaccari, Andrea, 2007. "Introduzione. Liberalizzazioni e concorrenza in Italia
    [Introduction. Liberalisation and competition in Italy]    ," MPRA Paper 16125, University Library of Munich, Germany.
  10. Hans Pitlik & Margit Schratzenstaller, 2011. "Growth Implications of Structure and Size of Public Sectors," WIFO Working Papers 404, WIFO.
  11. Jacques Pelkmans & Lourdes Acedo Montoya & Alessandro Maravalle, 2008. "How product market reforms lubricate shock adjustment in the euro area," European Economy - Economic Papers 341, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.

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