effect on innovation. We develop a simple "trapped factor" model of innovation that is consistent with these empirical …

effect on innovation. We develop a simple "trapped factor" model of innovation that is consistent with these empirical …

Aghion, Van Reenen and Zingales (2013) find that institutional ownership causes an increase in innovation as measured … ownership and innovation is robust in 22% of robustness checks. On average, 2nd stage z-scores were just 42.7% of the original …

Many writers have claimed that R&D has two 'faces'. In addition to the conventional role of stimulating innovation, R … important in this catch up process as well as stimulating innovation directly. Trade, by contrast, plays a more modest role in …