Aghion, Philippe; Bloom, Nicholas; Blundell, Richard; … - Institute for Fiscal Studies (IFS) - 2002
This paper investigates the relationship between product market competition (PMC) and innovation. A Schumpeterian growth model is developed in which firms innovate ѳtep-by-stepҬ and where both technological leaders and their followers engage in R&D activities. In this model, competition...
