The 'Gulf Falcons'-the countries of the Gulf Cooperation Council-have high living standards as a result of large income flows from oil. The decline of oil prices between summer 2014 and fall 2015 underscores the urgency for the Gulf Falcons to diversify away from their current heavy reliance on...

The effect of market competition on firm innovation remains controversial, especially in the context of developing countries. This paper presents new empirical evidence about the causal impact of competition on firm innovation for Chilean and Colombian manufacturing firms. Using...