Статья

Competition and Innovation: An Inverted-U Relationship*

Philippe AghionCanadian Institute of Advance Research, Harvard University, and Massachusetts Institute of TechnologyNick BloomCanadian Institute of Advance Research, Harvard University, and Massachusetts Institute of TechnologyRichard BlundellCanadian Institute of Advance Research, Harvard University, and Massachusetts Institute of TechnologyRachel GriffithCanadian Institute of Advance Research, Harvard University, and Massachusetts Institute of TechnologyPeter HowittCanadian Institute of Advance Research, Harvard University, and Massachusetts Institute of Technology

2005en

ABI

Аннотация

This paper investigates the relationship between product market competition and innovation. We find strong evidence of an inverted-U relationship using panel data. We develop a model where competition discourages laggard firms from innovating but encourages neck-and-neck firms to innovate. Together with the effect of competition on the equilibrium industry structure, these generate an inverted-U. Two additional predictions of the model-that the average technological distance between leaders and followers increases with competition, and that the inverted-U is steeper when industries are more neck-and-neck-are both supported by the data. © 2005 by the President and Fellows of Harvard College and the Massachusetts Institute of Technology.

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Идентификаторы

DOI: 10.1162/0033553053970214

Цитирования и источники

Цитирований: 2Использованных источников: 0

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