We analyze the relationship between legal institutions, innovation and growth. We compare a rigid (law set ex …, amount of innovation and output growth at intermediate stages of technological development - periods when legal change is …

defend their monopoly position and prevent innovation and entry of high-quality competitors. This requires that the incumbent … quality upgrade related to innovation. Consistently with our empirical findings, the model delivers a negative association …

innovation goods is decentralized. Financial intermediaries arise endogenously to provide liquid funds to the innovation sector …

This paper investigates the connection between resource abundance and innovation, as a transmission mechanism that can …, consumers trade off leisure versus consumption, and firms trade off innovation efforts versus manufacturing. For this model, we … indirectly by inducing a smaller proportion of the labor force to engage in innovation. …

introduction). However, what really matters in explaining ICT productivity is the level of innovation the new capital embodies. In …

This paper presents a dynamic partial equilibrium model that endogenizes firms' investment decision on innovation …: product innovation causes horizontal expansion growth, and process innovation causes vertical expansion growth. Market … structure in different markets emerges as a consequence of different investment on innovation opportunities. Main variables that …