&D), which are endogenized through financial institutions. The theory and its results shed lights on the debate of convergence …

traces the sources of TFP growth in the UK over the last two decades through the lens of a structural model of innovation …, using registry data on the universe of firms. The dominant innovation source in the pre-GFC decade were improvements by … recovery, survey data suggests that creative destruction (i.e., innovation replacing other firms' products) is expected to gain …

This paper extends the Schumpeterian model of creative destruction by allowing followers' cost of innovation to …

story that many ignore or claim it cannot be replicated. Using a theory and empirical evidence, we argue that one can learn …