, Khenkin, 1988. It is shown that, as a result of interaction between innovation and imitation, the shape of the efficiency …

innovation activities. The selection of high-skill managers is more important for innovation activities. As the economy … approaches the technology frontier, selection becomes more important. As a result, countries at early stages of development … investments, but little selection. Closer to the world technology frontier, there is a switch to an innovation-based strategy with …