We study innovation and the resulting Schumpeterian economic growth that this innovation gives rise to in a model with N heterogeneous regions. For each region i where i=1,...,N, our analysis leads to five findings. First, we define the balanced growth path (BGP) allocations and the equilibrium...

For many years, the intangible assets are becoming an increasingly important source of competitive advantage between contemporary enterprises. This limits the relevance of financial measures based on data from traditional financial statements and increases the need for hard data on intangible...