This paper extends the Schumpeterian model of creative destruction by allowing followers' cost of innovation to …

order to carry out innovation. This endogenous threshold level falls as the economy moves closer to the technological … frontier, enabling more entrepreneurs to be engaged in an innovation-based strategy, and consequently, moving the economy from … a technological structure that is based on imitation of foreign technologies to one where domestic innovation dominates …

The primary objective of this paper is to develop a two-country, dynamic, general equilibrium model with innovation … products are endogenously discovered through stochastic and sequential global innovation contests in which challengers devote …