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Author: Philippe Aghion
Publisher: MIT Press
ISBN: 0262512025
Category : Business & Economics
Languages : en
Pages : 115
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Book Description
Though competition occupies a prominent place in the history of economic thought, among economists today there is still a limited, and sometimes contradictory, understanding of its impact. In Competition and Growth, Philippe Aghion and Rachel Griffith offer the first serious attempt to provide a unified and coherent account of the effect competition policy and deregulated entry has on economic growth. The book takes the form of a dialogue between an applied theorist calling on "Schumpeterian growth" models and a microeconometrician employing new techniques to gauge competition and entry. In each chapter, theoretical models are systematically confronted with empirical data, which either invalidates the models or suggests changes in the modeling strategy. Aghion and Griffith note a fundamental divorce between theorists and empiricists who previously worked on these questions. On one hand, existing models in industrial organization or new growth economics all predict a negative effect of competition on innovation and growth: namely, that competition is bad for growth because it reduces the monopoly rents that reward successful innovators. On the other hand, common wisdom and recent empirical studies point to a positive effect of competition on productivity growth. To reconcile theory and evidence, the authors distinguish between pre- and post-innovation rents, and propose that innovation may be a way to escape competition, an idea that they confront with microeconomic data. The book's detailed analysis should aid scholars and policy makers in understanding how the benefits of tougher competition can be achieved while at the same time mitigating the negative effects competition and imitation may have on some sectors or industries.
Author: Philippe Aghion
Publisher: MIT Press
ISBN: 0262512025
Category : Business & Economics
Languages : en
Pages : 115
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Book Description
Though competition occupies a prominent place in the history of economic thought, among economists today there is still a limited, and sometimes contradictory, understanding of its impact. In Competition and Growth, Philippe Aghion and Rachel Griffith offer the first serious attempt to provide a unified and coherent account of the effect competition policy and deregulated entry has on economic growth. The book takes the form of a dialogue between an applied theorist calling on "Schumpeterian growth" models and a microeconometrician employing new techniques to gauge competition and entry. In each chapter, theoretical models are systematically confronted with empirical data, which either invalidates the models or suggests changes in the modeling strategy. Aghion and Griffith note a fundamental divorce between theorists and empiricists who previously worked on these questions. On one hand, existing models in industrial organization or new growth economics all predict a negative effect of competition on innovation and growth: namely, that competition is bad for growth because it reduces the monopoly rents that reward successful innovators. On the other hand, common wisdom and recent empirical studies point to a positive effect of competition on productivity growth. To reconcile theory and evidence, the authors distinguish between pre- and post-innovation rents, and propose that innovation may be a way to escape competition, an idea that they confront with microeconomic data. The book's detailed analysis should aid scholars and policy makers in understanding how the benefits of tougher competition can be achieved while at the same time mitigating the negative effects competition and imitation may have on some sectors or industries.
Author: Uwe Cantner
Publisher: Springer Science & Business Media
ISBN: 3540937773
Category : Business & Economics
Languages : en
Pages : 442
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Book Description
Recent developments in economics have gone from the recognition of the importance of innovation for growth and the exploration of innovation mechanisms to the incorporation of the results of the previous research into economic models. An important lesson to be drawn from all this research is that a purely macro-based analysis of growth is not enough. The various mechanisms of innovation creation and diffusion, the importance of agent heterogeneity, of market selection processes, of the internal organization of the firm and of organizational routines, and the obsolescence and the consequent emergence of new types of capital goods are a few examples of micro-economic phenomena that contribute decisively to macro-economic development. The papers in this volume approach those issues from a Schumpeterian point of view and tackle issues like the growing importance of knowledge and human capital; increasing returns and path dependence; the role of variety in economic growth; competition and industry evolution.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1513574175
Category : Business & Economics
Languages : en
Pages : 28
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Book Description
We provide an overview of the theories and empricial evidence on the complex relationship among innovation, competition, and inclusive growth. Competition and innovation-led growth are critical to drive productivity gains and support broad-based growth. However, new technologies and trends in market concentration are stifling future innovation while contributing to the marked increase in inequality. Beyond consumer welfare in a narrow market, competition policy should adapt to this new reality by considering the spillover and dynamic effects of market power, especially on firm entry, innovation, and inequality. Innovation policies should tackle not only government failures but also market failures.
Author: Uwe Cantner
Publisher: Springer
ISBN: 9783540938798
Category : Business & Economics
Languages : en
Pages : 450
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Book Description
Recent developments in economics have gone from the recognition of the importance of innovation for growth and the exploration of innovation mechanisms to the incorporation of the results of the previous research into economic models. An important lesson to be drawn from all this research is that a purely macro-based analysis of growth is not enough. The various mechanisms of innovation creation and diffusion, the importance of agent heterogeneity, of market selection processes, of the internal organization of the firm and of organizational routines, and the obsolescence and the consequent emergence of new types of capital goods are a few examples of micro-economic phenomena that contribute decisively to macro-economic development. The papers in this volume approach those issues from a Schumpeterian point of view and tackle issues like the growing importance of knowledge and human capital; increasing returns and path dependence; the role of variety in economic growth; competition and industry evolution.
Author: Christian Terwiesch
Publisher: Harvard Business Press
ISBN: 1422133389
Category : Business & Economics
Languages : en
Pages : 256
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Book Description
Managers, entrepreneurs, and venture capitalists all seek to maximize the financial returns from innovation, and profits are driven largely by the quality of the opportunities they pursue. Based on a structured and process-driven approach this book demonstrates how to systematically identify exceptional opportunities for innovation. An innovation tournament, just like its counterpart in sports, starts with a large number of candidates, with opportunities as the players. These opportunities are pitted against each other until only the exceptional survive. This book provides a principled approach for the effective management of innovation tournaments - identifying a wealth of promising opportunities and then evaluating and filtering them intelligently for greatest profitability. With a set of practical tools for creating and identifying new opportunities, it guides the reader in evaluating and screening opportunities. The book demonstrates how to construct an innovation portfolio and how to align the innovation process with an organization's competitive strategy. Innovation Tournaments employs quirky, fresh examples ranging from movies to medical devices. The authors' tool kit is built on their extensive research, their entrepreneurial backgrounds, and their teaching and consulting work with many highly innovative organizations.
Author: Johannes Bröcker
Publisher: Springer Science & Business Media
ISBN: 3540247602
Category : Business & Economics
Languages : en
Pages : 413
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Book Description
The world's leading experts contribute to our understanding of regional innovation, cluster formation and the factors that influence regional productivity and innovative performance. The text improves our understanding of the reasons why, how and where innovation clusters emerge, as well as the factors that determine their respective success or failure. In doing so, it provides a timely and comprehensive picture on innovation, location, networks and clusters as important means in an environment of intensifying interregional competition. The book is written for professional researchers as well as for students and practitioners in politics, business and consultancy.
Author: Hans-Werner Gottinger
Publisher:
ISBN: 9781634840224
Category : Business & Economics
Languages : en
Pages : 182
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Book Description
Some structural elements of networks carry over to features of dynamic competition in network industries that, through increasing return mechanisms on innovation based industries, generate sustainable growth and create industrial linkages as a backbone to industrial/economic growth. The project focuses on the integration of network structure, industrial competition and industrial growth processes into a coherent mechanism design. This text should be of interest to policy analysts/ makers, industry strategists/ consultants, students of industrial economics/organization, entrepreneurship/ management and economic journalists alike with interest in and focus on strategic and structural foundations of network economies and their industrial implications. The book is also designed to be used as a text for a course in business strategy as it could serve as a supplementary text to industrial organization and being part of the micro-foundations of economic growth and development neglected in the mostly macro-centered economic growth literature. Content-wise, links are drawn from the structure of networks to dynamic competition in innovation focused industries, its restrictions and abuses of dominance in market structures and potential future markets for antitrust, to the growth of industries through increasing returns mechanisms in complementary markets and the consequences for industrial growth and development. Coverage includes: 1. Integrating Networks, Dynamic Competition and Industrial Growth, 2. Networks, Technology and Competition, 3. Dynamics of Competition and Market Dynamics, 4. Increasing Returns Mechanism, 5.Industrial and Economic Growth: A Review, 6. Mechanism Design for Economic Development, and 7. Network-centered Industrial Growth. The central theme of this compilation is the interplay of competition, innovation, cooperation and market structure along vertical and horizontal industry lines. Interaction and interdependencies are facilitated and sometimes bottlenecked through networks most naturally prevalent in high technology industries. This forms the core basis of business strategy relating to the growth of business and complementary activities through innovation, mergers and acquisitions (M and As) and related strategic choices.
Author: OECD
Publisher: OECD Publishing
ISBN: 9789264073968
Category :
Languages : en
Pages : 272
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Book Description
In this volume, the OECD and the World Bank jointly take stock of how globalisation is posing new challenges for innovation and growth in both developed and developing countries, and how countries are coping with them.
Author: George S. Day
Publisher: University of Pennsylvania Press
ISBN: 1613631316
Category : Business & Economics
Languages : en
Pages : 138
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Book Description
Wharton professor George S. Day shows that growth leaders use their innovation prowess to accelerate their growth at a faster rate. In this essential guide, Day reveals how to build this prowess by combining discipline in growth-seeking activities with an organizational ability to innovate.
Author: Michael J Andrews
Publisher: University of Chicago Press
ISBN: 022681078X
Category : Business & Economics
Languages : en
Pages : 633
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Book Description
"Innovation and entrepreneurship are ubiquitous today, both as fields of study and as starting points for conversations among experts in government and economic development. But while these areas on continue to attract public and private investments, many measurements of their resulting economic growth-including productivity growth and business dynamism-have remained modest. Why this difference? Because not all business sectors are the same, and the transformative gains of some industries have been offset by stagnation or contraction in others. Accordingly, a nuanced understanding of the economy requires a nuanced understanding of where innovation and entrepreneurship occur and where they matter. Answering these questions allows for strategic public investment and the infrastructure for economic growth.The Role of Innovation and Entrepreneurship in Economic Growth, the latest entry in the NBER conference series, seeks to codify these answers. The editors leverage industry studies to identify specific examples of productivity improvements enabled by innovation and entrepreneurship, including those from new production technologies, increased competition, new organizational forms, and other means. Taken together, the volume illuminates whether the contribution of innovation and entrepreneurship to economic growth is likely to be concentrated, be it selected sectors or more broadly"--
