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Beat 'Em or Join 'Em? Export Subsidies versus International Research Joint Ventures in Oligopolistic Markets.

Abstract:

We compare adversarial with cooperative industrial and trade policies in a dynamic oligopoly game in which a home and foreign firm compete in R&D; and output and, because of spillovers, each firm benefits from the other's R&D.; When the government can commit to an export subsidy, such a policy raises welfare relative to cooperation, except when R&D; is highly effective and spillovers are near-complete. Without commitment, however, subsidisation may yield welfare levels much lower ...

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Files:
Publisher copy:
10.1111/1467-9442.00174
Publisher:
Blackwell Publishing
Journal:
Scandinavian Journal of Economics
Volume:
101
Issue:
4
Pages:
577 - 596
Publication date:
1999-01-01
DOI:
ISSN:
0347-0520
Language:
English
UUID:
uuid:3edc985f-bed5-499b-afb3-50659b6d2e31
Local pid:
oai:economics.ouls.ox.ac.uk:11448
Deposit date:
2011-08-16

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