Frontmatter -- Preface -- Contents -- The setting of the problem -- Patent statistics -- The role of intellectual stimuli -- The use of important inventions as a cause of further inventions -- Productivity advance: A Case of supply and demand? -- The amount of invention is governed by the extent...

I study an economy where oligopolistic firms establish in-house R&D programs to produce a continuous flow of cost-reducing (incremental) innovations. The scale of firms' R&D operations determines the rate of productivity growth. I first study the role of concentration, firm size, and demand,...

This paper builds on the literature on growth in searching for explanations for the divergent growth performance between the EU countries and the United States. We emphasise the role of R&D investment and perhaps different degrees of elasticity of substitution between capital and labour. We...