Endogenous growth theory has significantly impacted most of the developing and developed countries, shifting priorities of industrial policies towards innovation. In line with this trend, the European Union significantly increased its budgetary allocation for R&D. However, statistical data show...

The UK and US tobacco industries provide a particularly clean place to examine the impact of changes in market structure on firm conduct and productivity in a rapidly innovating industry. Although each industry had roughly equal access to new manufacturing technologies, the industries were...