version. Technically, the paper is based on the very elegant theory about stochastic ordering of (normalized) spacings and …. Proschan (1966, 1975) in the framework of reliability theory. …

show that investment can take place even without patent protection, as parasites limit their imitation to preserve the …Understanding the impact of legal protection on investment is of major importance. This paper provides a framework for … addressing this issue, and shows that investment may actually be higher in the absence of legal protection. Focusing on the …

We develop a theory of innovation for entry and sale into oligopoly, and show that an invention of higher quality is …

more important for small-firm innovation than for their larger counterparts. …

We provide theoretical and empirical evidence that policy uncertainty can significantly affect firm level investment … dynamic, heterogeneous firms model we show that: (i) investment and entry into export markets is reduced when trade policy is … theory-based measure of policy uncertainty. Our novel approach using observable trade policies allows us to estimate the …

simple model and provide evidence that the answer to this question is yes. We consider a levered firm's choice of investment … financial distress. When the code is creditor-friendly, excessive liquidations cause the firm to shy away from innovation. In … contrast, by promoting continuation upon failure, a debtor-friendly code induces greater innovation. This effect remains robust …

We analyze the relationship between legal institutions, innovation and growth. We compare a rigid (law set ex … welfare, amount of innovation and output growth at intermediate stages of technological development — periods when legal … excessive (greater than first-best) R&D investment and output growth. …