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 …

at the firm level. Product innovation is a key factor for successful market entry in models of creative destruction and … Schumpeterian growth. Process innovation helps securing a firm's market position given the characteristics of its product supply …. Both modes of innovation are expected to raise a firm's propensity to export. According to new trade theory, we conjecture …

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

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 …

We study the gains from trade in an economy with oligopolistic competition, firm heterogeneity, and innovation …. In addition to markups, selection and innovation provide additional channels through which the trade-induced effect on … channels; we find that innovation plays a small but non-negligible role, while the main component is equally split between the …

This paper analyzes the optimal protection strategy for an innovator of a complex innovation who faces the risk of … imitation by a competitor. We suppose that the innovation can be continuously fragmented into sub-innovations. We characterize … fraction of the innovation once. We also study the optimal dynamic patenting policy in a soft novelty regime, when the …

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 …