This paper investigates the relationship between product market competition and innovation. It uses the radical policy … reforms in the UK as instruments for changes in product market competition, and finds a robust inverted-U relationship between … competition and patenting. It then develops an endogenousm growth model with step-by-step innovation that can deliver this …

This paper investigates the relationship between product market competition (PMC) and innovation. A growth model is … developed in which competition may increase the incremental profit from innovating; on the other hand, competition may also … competition (PMC) and innovation is an inverted U-shape. Second, the equilibrium degree of technological neck-and-neckness' among …

This paper investigates the relationship between product market competition (PMC) and innovation. A growth model is … developed in which competition may increase the incremental profit from innovating; on the other hand, competition may also … competition (PMC) and innovation is an inverted U-shape. Second, the equilibrium degree of technological neck-and-neckness' among …

This paper investigates the relationship between product market competition (PMC) and innovation. A Schumpeterian … engage in R&D activities. In this model, competition may increase the incremental profit from innovating; on the other hand …, competition may also reduce innovation incentives for laggards. This model generates four main predictions which we test …