Competition and Innovation: An Inverted-U Relationship*

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ID: 291219
2005
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Abstract
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.
Reference Key
openalex_W4293020912 Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Philippe Aghion, Nick Bloom, Richard Blundell, Rachel Griffith, Peter Howitt
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Journal the quarterly journal of economics
Year 2005
DOI
10.1162/0033553053970214
URL
https://doi.org/10.1162/0033553053970214
Keywords Keywords not found

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