Interactions between economic development and financial development are studied by looking at the roles of financial institutions in selecting Ramp;D projects (including for both imitation and innovation). Financial development is regarded as the evolution of the financing regimes. The...

This paper studies the role of quality competition in endogenous growth and institutional factors which can affect growth through affecting quality competition. The Ramp;D-based growth literature as it stands attributes the incentives for innovations to monopolist market structure, and regards...

Some recent empirical findings suggest that there are intrinsic links between the statistical regularities regarding cohort survival patterns, the persistence of firm turnover, and shakeout during an industry life-cycle. This paper presents a theoretical model which explains these regularities...