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The fundamental importance of economic institutions for economic growth through their impact on technological change has been argued, reconfirmed by recent empirical studies, but not examined theoretically. This paper tries to fill that gap. In the model proposed, economic growth is affected by...
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innovation and economic growth in the future, France will need to equip itself with the institutions that will enable the country … of its potential to become a vector for growth and to assume the role of a facilitator in an innovation-based economy …
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This paper looks at the link between the quality of economic institutions and innovation, and innovation and growth. We … construct a measure of the innovation content of individual manufacturing industries and show that countries with stronger … economic institutions specialize in more innovation‐intensive industries. Our results also provide evidence that industries …
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Financial institutions affect R&D and growth through their roles as corporate control devices with respect to disciplining managers and selecting projects. For an institution which generates a soft-budget constraints problem, we show how it creates conditions for relatively low economic growth...
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