due to a weakness in technological innovation despite a high quality science base. This includes comparatively low and …

effect which becomes more pronounced when we account for the endogeneity of innovation. This is the case for three different … count measures of innovation – a global measure of innovation and measures for labour innovations and capital innovations …

Using a dynamic model of a step-by-step innovation race between financially constrained firms, I study how financial … constraints affect innovation activity. The novel theoretical results derive from an analysis of the interaction between the … incentive effect of competition on innovation and the effect competition has on the degree of credit rationing. I find that the …

long-run growth by increasing the profit from innovation. In the short run, factors of production must be reallocated … inside firms, which lowers the opportunity cost of innovation, generating an additional “trapped factor” effect. Starting …