In the R&D race the incumbent enjoys an advantage of learning from production experiences, but this important feature has not been incorporated into existing studies. Assuming that the technological knowledge is accumulated not only by R&D expenditures but also by production experiences, we...

The EU agenda for improving competitiveness is missing in action. Economic competitiveness has been a central plank in the development of the European Union - a relentless quest for policies that lead to more prosperity and that make European companies in world markets more successful. However,...