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

innovation market. If employment protection is introduced, firms' willingness to pay for product or process innovations increases …. This shifts economic activity towards firms specializing in process and product innovation and triggers entry of new start …

We construct a tractable general equilibrium model of cumulative innovation and growth, in which new ideas strictly … the rate of innovation, as well as a separate optimal required inventive step that maximizes welfare, with the former …

-return characteristics of the selected innovation project and the mode of commercialization chosen by entrepreneurs (market entry versus sale …

We empirically investigate whether the persistence of politicians in political institutions affects the innovation …' innovation activity. However, once the causal effect is isolated by means of instrumental variables, using death of politicians … persistence and the probability of process innovation. This finding is consistent with the view that political stability may …

Northern trade liberalization reduces the rate of innovation, increases Northern unemployment, and reduces both Northern and …