We develop a theory of innovation for entry and sale into oligopoly, and show that an invention of higher quality is …

measure of innovation alternative to patent count. Unlike the impact on patent count, we do not find that VC investment … impact on patent count at industry level, and this impact is larger than that of R&D expenditures. We confirm that this … and material. Therefore, our finding suggests that, at industry level, VC investment increases the patent propensity but …

application to innovation, in an environment where an innovator (the host) repeatedly faces the same imitators (parasites), we … show that investment can take place even without patent protection, as parasites limit their imitation to preserve the …

behaviour is introduced. The innovation activity in the R&D sector involves knowledge externalities among skilled workers. Our … dispersion to agglomeration, innovation follows a much faster pace. As a consequence, even those who stay put in the periphery …

: comparison with Japan, comparison with the New Economic Policy (NEP), and assuming alternative post-1940 growth scenarios. …

period 1550–1630. We add evidence from Japan and China from the early modern period until 1800 to obtain a human capital …

. However, Japan started at a lower level than Britain and grew more slowly until the Meiji Restoration. …