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Advisor(s)
Abstract(s)
In the standard Schumpeterian-growth models only follower firms invest
in R&D activities and larger economies grow faster. Since these results
are counterfactual, this paper reveals that leader firms often support
R&D activities and economic growth can be independent of the market
size. In particular, the maintenance of R&D leadership increases with: (i)
the technological-knowledge gap between leader and followers, since a
firm-specific learning effect of accumulated technological knowledge
from past R&D is considered, (ii) the leaders’ strategies that delay the
next successful R&D supported by some follower firm, (iii) the market
size, and (iv) the up-grade of each innovation.
Description
Keywords
Pedagogical Context
Citation
Afonso and Bandeira, 2012
Publisher
Blackwell Publishing Ltd and The University of Manchester