must then become larger to break even, which facilitates amortizing the fixed costs of innovation. We demonstrate our …

endogenous share opts for innovation and faces credit constraints in the subsequent expansion phase. We emphasize four results …: (i) R&D subsidies not only encourage innovation but also relax finance constraints and help innovative firms to exploit … investment of constrained firms by reducing free cash-flow and thereby discourage innovation. (iii) A revenue neutral increase in …

We propose an endogenous growth model with offshoring to investigate its effects on product innovation and growth in …

regard to the capital gains tax, innovation subsidy, public R&D spending and other policy initiatives. …

-country dynamic Ricardian model with endogenous innovation and hold-up problems, the value chain consists of two activities …, innovation and production. Entry in the market happens through R&D and entrants face two decisions. The 'location decision … perform innovation and production within the same vertically integrated structure or not. In this framework, the quality of …

innovation. In so doing, we model an industry in which R&D is performed by independent research labs and outsourcing production …