How do political connections affect firm dynamics, innovation, and creative destruction? To answer this question, we … build a firm dynamics model, where we allow firms to invest in innovation and/or political connection to advance their …

traces the sources of TFP growth in the UK over the last two decades through the lens of a structural model of innovation …, using registry data on the universe of firms. The dominant innovation source in the pre-GFC decade were improvements by … recovery, survey data suggests that creative destruction (i.e., innovation replacing other firms' products) is expected to gain …