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Spillovers and the competitive pressure of long run innovation

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  • Ana Balcão Reis
  • Daniel Traca

Abstract

This paper discusses the impact of oligopolistic product markets for innovation and growth, highlighting a novel, fundamental role of spillovers. We develop a model of endogenous growth with non-tournament R&D, where spillovers raise the relative R&D efficiency of laggards. A key feature is that the rate of innovation and the market configuration (i.e. the distribution of market shares) are jointly determined. Our results emphasize the role of spillovers in sustaining the competitive pressure that is fundamental for long-run innovation and economic growth.

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Bibliographic Info

Paper provided by ULB -- Universite Libre de Bruxelles in its series ULB Institutional Repository with number 2013/14146.

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Date of creation: 2008
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Publication status: Published in: European Economic Review (2008) v.52 n° 4,p.589-610
Handle: RePEc:ulb:ulbeco:2013/14146

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  1. Traca, Daniel A., 2001. "Quantitative restrictions, market power and productivity growth," Journal of Development Economics, Elsevier, Elsevier, vol. 65(1), pages 95-111, June.
  2. Peretto, Pietro F., 1995. "Sunk Costs, Market Structure, and Growth," Working Papers, Duke University, Department of Economics 95-34, Duke University, Department of Economics.
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  7. Traca, Daniel A., 2002. "Imports as competitive discipline: the role of the productivity gap," Journal of Development Economics, Elsevier, Elsevier, vol. 69(1), pages 1-21, October.
  8. Robert J. Barro, 1995. "Inflation and Economic Growth," NBER Working Papers 5326, National Bureau of Economic Research, Inc.
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  10. van de Klundert, Theo & Smulders, Sjak, 1997. " Growth, Competition and Welfare," Scandinavian Journal of Economics, Wiley Blackwell, Wiley Blackwell, vol. 99(1), pages 99-118, March.
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  12. D'ASPREMONT, Claude & DOS SANTOS FERREIRA, Rodolphe & GERARD-VARET, Louis-André, 2004. "Strategic R&D investment, competitive toughness and growth," CORE Discussion Papers, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) 2004014, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  13. 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.
  14. Peretto, Pietro F., 1997. "Technological Change, Market Rivalry, and the Evolution of theCapitalist Engine of Growth," Working Papers, Duke University, Department of Economics 97-06, Duke University, Department of Economics.
  15. Peretto, Pietro F., 1999. "Cost reduction, entry, and the interdependence of market structure and economic growth," Journal of Monetary Economics, Elsevier, Elsevier, vol. 43(1), pages 173-195, February.
  16. Aghion, Philippe, et al, 2001. "Competition, Imitation and Growth with Step-by-Step Innovation," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 68(3), pages 467-92, July.
  17. Harris, Christopher & Howitt, Peter & Vickers, John & Aghion, Philippe, 2001. "Competition, Imitation and Growth with Step-by-Step Innovation," Scholarly Articles 12375013, Harvard University Department of Economics.
  18. David Encaoua & David Ulph, 2005. "Catching-up or Leapfrogging: The effects of competition on innovation and growth," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00177643, HAL.
  19. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
  20. Dasgupta, Partha & Stiglitz, Joseph, 1980. "Industrial Structure and the Nature of Innovative Activity," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 90(358), pages 266-93, June.
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Cited by:
  1. Gil, Pedro Mazeda, 2010. "Stylised facts and other empirical evidence on firm dynamics, business cycle and growth," Research in Economics, Elsevier, Elsevier, vol. 64(2), pages 73-80, June.
  2. Tom-Reiel Heggedal, 2008. "On R&D and the undersupply of emerging versus mature technologies," Discussion Papers, Research Department of Statistics Norway 571, Research Department of Statistics Norway.

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