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A dual economy model of endogenous growth with R&D and market structure

In: Schumpeterian Perspectives on Innovation, Competition and Growth

Author

Listed:
  • Thanh Le

    (University of Queensland)

Abstract

This paper develops a dual economy endogenous growth model to consider the effects of market structure and innovation on the rate of growth of an economy. There is an innovative goods sector where firms consistently invest in research and development to produce new products within a framework of monopolistic competition. Firms in the traditional goods sector produce a homogenous good, compete in a form of oligopoly (quantity competition), and seek to reduce their production costs. It is shown that growth is increasing in the market power that firms in the innovative goods sector obtain but decreasing in the equilibrium number of firms in the traditional goods sector.

Suggested Citation

  • Thanh Le, 2009. "A dual economy model of endogenous growth with R&D and market structure," Springer Books, in: Uwe Cantner & Jean-Luc Gaffard & Lionel Nesta (ed.), Schumpeterian Perspectives on Innovation, Competition and Growth, pages 97-114, Springer.
    • Handle: RePEc:spr:sprchp:978-3-540-93777-7_7
    DOI: 10.1007/978-3-540-93777-7_7
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    Cited by:

    1. is not listed on IDEAS
    2. Thanh Le & Huong Quynh Nguyen & Mai Vu, 2024. "Robot revolution and human capital accumulation: implications for growth and labour income," Journal of Evolutionary Economics, Springer, vol. 34(1), pages 89-126, January.
    3. Le, Thanh & Le Van, Cuong, 2018. "Research and development and sustainable growth over alternative types of natural resources," Economic Modelling, Elsevier, vol. 70(C), pages 215-229.

    More about this item

    Keywords

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    JEL classification:

    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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