contrast, domestic regulatory impediments to competition are not robustly correlated with product innovation. "--World Bank web …"It is so widely recognized that innovation is a key driver of economic growth that it is cliche to say so. This … article studies product innovation by firms with data from 68 countries, covering more than 25,000 firms in eight …

We investigate the effect of better access to foreign markets on innovation strategies of multi-product firms in … between the returns to innovation. In differentiated industries, cannibalization is lower and firms invest more in product … innovation. In homogeneous industries, firms internalize intra-firm spillovers and invest more in process innovation. We test …

This paper studies the innovation strategies of multi-product firms in industries with different scope for product … differentiation. In a simple model of multi-product firms, we show that returns to product versus process innovation are industry …-specific. Demand and cost linkages induce a natural distinction between the returns to product and process innovation. In highly …