Acemoglu, Daron; Aghion, Philippe; Zilibotti, Fabrizio - 2015
innovation activities. The selection of high-skill managers is more important for innovation activities. As the economy … investments, but little selection. Closer to the world technology frontier, there is a switch to an innovation-based strategy with … economies may switch out of the investment-based strategy too soon, so certain economic institutions and policies, such as …