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Competition and Growth with Step-by-Step Innovation: An Example.

Abstract:
This paper develops a simple example to analyze the relationship between product market competition and growth in a model with step-by-step innovations, where laggards can never leapfrog the current industry leaders but instead must first catch up with the leaders before battling for technological leadership in the future. Unlike in existing Schumpeterian models of growth, more intense product market competition and/or imitations may be growth-enhancing.

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Authors


Philippe Aghion More by this author
Christopher Harris More by this author
John Vickers More by this author
Journal:
European Economic Review
Volume:
41
Publication date:
1997
URN:
uuid:93334677-ef42-487f-ab3b-754527796906
Local pid:
oai:economics.ouls.ox.ac.uk:10664
Language:
English

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