The focus of this paper is on the incentives of firms to invest in research and development (R&D) when sequential moves are taken into account. Leading firms move before followers in investment and in output choices in a four stage game setting. Leaders may compete or cooperate in R&D with other...

This paper investigates the implications of asymmetric spillovers on noncooperative strategic investments in a duopoly with quadratic pay-offs. A unique equilibrium in the announcement of the leader/follower role exists in the case where one firm absorbs large spillovers while the other, at...

This paper develops a “Composite Index of the Creative Economy” (CICE) for the purpose of benchmarking an entity’s (e.g., country or region) creative capacity as reflected by it’s achievement in three dimensions: Innovation, Entrepreneurship and Openness. To determine the weight each...

This paper studies the impact of globalisation on the exit behaviour of domestic and foreign firms in the manufacturing industries of Belgium, one of the most open economies in the world. The strongest effects are found to come from rising import growth and rising multinational firms penetration...