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Innovation and competition in EU15: Empirical evidence on the Lisbon Decade and beyond

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  • Ugur, Mehmet
  • Guner, Umit

Abstract

In March 2000, the Lisbon Summit set the European Union the goal of becoming ‘the most dynamic and competitive knowledge-based economy in the world’ by 2010. This paper aims to ascertain the extent to which various indicators of innovation in EU15 have improved and whether such improvement has been driven by higher levels of competition in EU15 economies. To this end, we provide a descriptive account of the competition and innovation indicators from 1980-2008. Then, we discuss the relationship between market structure (level of competition) and innovation; and estimate the impact of the former on the latter. We report that aggregate innovation measures for EU15 have been increasing over the 1980-2008 period and there does not seem to be a significant change in the trend during the Lisbon decade (200-2008). Furthermore, increasing levels of innovation have been associated with increasing economic rents – i.e., with further departures from the perfect-competition baseline. Fixed-effect panel-data regression results point out a positive and statistically significant relationship between economic rents and various measures of innovations.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 25705.

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Date of creation: Sep 2010
Date of revision: Oct 2010
Handle: RePEc:pra:mprapa:25705

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Keywords: Innovation; competition; European Union; Lisbon Agenda;

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  1. Philippe Aghion & Nicholas Bloom & Richard Blundell & Rachel Griffith & Peter Howitt, 2002. "Competition and Innovation: An Inverted U Relationship," NBER Working Papers 9269, National Bureau of Economic Research, Inc.
  2. Griffith, Rachel & Harrison, Rupert & Simpson, Helen, 2006. "Product Market Reform and Innovation in the EU," CEPR Discussion Papers, C.E.P.R. Discussion Papers 5849, C.E.P.R. Discussion Papers.
  3. Grossman, Gene M & Helpman, Elhanan, 1991. "Quality Ladders in the Theory of Growth," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 58(1), pages 43-61, January.
  4. Blackorby, C., 1990. "Economic Policy In A Second-Best Environment," G.R.E.Q.A.M., Universite Aix-Marseille III 90c01, Universite Aix-Marseille III.
  5. Dixit, Avinash K & Stiglitz, Joseph E, 1977. "Monopolistic Competition and Optimum Product Diversity," American Economic Review, American Economic Association, American Economic Association, vol. 67(3), pages 297-308, June.
  6. Khalid Sekkat & Adriaan Dierx & Fabienne Ilzkovitz, 2004. "European integration and the functioning of product markets," ULB Institutional Repository 2013/7310, ULB -- Universite Libre de Bruxelles.
  7. Rachel Griffith & Rupert Harrison & Helen Simpson, 2006. "The link between product market reform, innovation and EU macroeconomic performance," European Economy - Economic Papers, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission 243, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.
  8. Gelauff, George & Lejour, Arjan, 2006. "The new Lisbon Strategy: An estiamtion of the impact of reaching 5 Lisbon targets," MPRA Paper 16168, University Library of Munich, Germany.
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