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Product market competition, creative destruction and innovation

Griffith, Rachel and Van Reenen, John ORCID: 0000-0001-9153-2907 (2021) Product market competition, creative destruction and innovation. CEP Discussion Papers (1818). Centre for Economic Performance, LSE, London, UK.

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Abstract

We examine the economic analysis of the relationship between innovation and product market competition. First, we give a brief tour of the intellectual history of the area. Second, we examine how the Aghion-Howitt framework has influenced the development of the literature theoretically and (especially) empirically, with an emphasis on the "inverted U": the idea that innovation rises and then eventually falls as the intensity of competition increases. Thirdly, we look at recent applications and development of the framework in the areas of competition policy, international trade and structural Industrial Organization.

Item Type: Monograph (Discussion Paper)
Official URL: https://cep.lse.ac.uk/_new/publications/discussion...
Additional Information: © 2021 The Authors
Divisions: Economics
Subjects: H Social Sciences > HD Industries. Land use. Labor
H Social Sciences > HB Economic Theory
G Geography. Anthropology. Recreation > GE Environmental Sciences
JEL classification: O - Economic Development, Technological Change, and Growth > O3 - Technological Change; Research and Development > O31 - Innovation and Invention: Processes and Incentives
L - Industrial Organization > L1 - Market Structure, Firm Strategy, and Market Performance > L13 - Oligopoly and Other Imperfect Markets
O - Economic Development, Technological Change, and Growth > O3 - Technological Change; Research and Development > O32 - Management of Technological Innovation and R&D
B - Schools of Economic Thought and Methodology > B2 - History of Economic Thought since 1925 > B20 - General
L - Industrial Organization > L4 - Antitrust Issues and Policies > L40 - General
Date Deposited: 24 Feb 2022 14:42
Last Modified: 25 Feb 2022 00:03
URI: http://eprints.lse.ac.uk/id/eprint/113816

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