ten Raa, Thijs; Mohnen, Pierre - In: Journal of Economic Behavior & Organization 65 (2008) 3-4, pp. 573-584
Neoclassical economists argue that competition promotes efficiency, but Schumpeter argues that it is monopoly rents that help entrepreneurs to invest in R&D. We investigate the overall effect of competition on total factor productivity growth (TFP) growth. We use rent, defined as the factor...