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dc.contributor.authorChernyshev, Nikolay
dc.identifier.citationChernyshev , N 2017 ' The relationship between R &D and competition : reconciling theory and evidence ' CDMA Working Paper , no. 1704 .en
dc.identifier.otherPURE: 251245373
dc.identifier.otherPURE UUID: e092c5cd-b467-426e-8c18-93bc22eced46
dc.descriptionGenerous financial support of the Royal Economic Society is gratefully recognised.en
dc.description.abstractThe hypothesis of a hump-shaped relationship between innovation and competition due to Aghion, Bloom, Blundell, Griffith, and Howitt (2005), has been tested for different data sets without garnering conclusive support. In this paper we argue that this lack of agreement is because of a difference in approaches to measuring innovation (either in terms of R&D outcomes or by R&D effort). We develop a unified tractable general-equilibrium framework, in which, while R&D outcomes are a hump-shaped function of competition, R&D effort can be observed to be either increasing, decreasing, or hump-shaped. This enables our paper, first, to reconcile the conclusions by Aghion et al. (2005) with more recent results and, second, to inform further attempts to identify the hump-shaped relationship in data.
dc.relation.ispartofseriesCDMA Working Paperen
dc.rightsCopyright (c)2017 the authoren
dc.subjectInverted-U (hump-shaped) relationshipen
dc.subjectResearch and developmenten
dc.subjectVertical innovationen
dc.subjectHB Economic Theoryen
dc.titleThe relationship between R&D and competition : reconciling theory and evidenceen
dc.typeWorking or discussion paperen
dc.description.versionPublisher PDFen
dc.contributor.institutionUniversity of St Andrews.School of Economics and Financeen
dc.contributor.institutionUniversity of St Andrews.Centre for Dynamic Macroeconomic Analysisen

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