Innovate To Lead Or Innovate To Prevail When Do Monopolistic Rents Induce Growth

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Innovate to Lead or Innovate to Prevail: When do Monopolistic Rents Induce Growth?

Author : Mr.Roberto Piazza
Publisher : International Monetary Fund
ISBN 13 : 1513525247
Total Pages : 56 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Innovate to Lead or Innovate to Prevail: When do Monopolistic Rents Induce Growth? by : Mr.Roberto Piazza

Download or read book Innovate to Lead or Innovate to Prevail: When do Monopolistic Rents Induce Growth? written by Mr.Roberto Piazza and published by International Monetary Fund. This book was released on 2019-12-27 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper extends the Schumpeterian model of creative destruction by allowing followers’ cost of innovation to increase in their technological distance from the leader. This assumption is motivated by the observation the more technologically ad- vanced the leader is, the harder it is for a follower to leapfrog without incurring extra cost for using leader’s patented knowledge. Under this R&D cost structure, leaders innovate to increase their technological advantage so that followers will eventually stop innovating, allowing leadership to prevail. A new steady state then emerges featuring both leaders and followers innovating in few industries with low aggregate growth.

Leadership Contestability, Monopolistic Rents and Growth

Author : Mr.Roberto Piazza
Publisher : International Monetary Fund
ISBN 13 : 1455228079
Total Pages : 23 pages
Book Rating : 4.4/5 (552 download)

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Book Synopsis Leadership Contestability, Monopolistic Rents and Growth by : Mr.Roberto Piazza

Download or read book Leadership Contestability, Monopolistic Rents and Growth written by Mr.Roberto Piazza and published by International Monetary Fund. This book was released on 2011-03-01 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: I construct an endogenous growth model where R&D is carried out at the industry level in a game of innovation between leaders and followers. Innovation costs for followers are assumed to increase with the technological lag from leaders. We obtain three results that contrast with standard Schumpeterian models, such as Aghion and Howitt (1992). First, leaders may innovate in equilibrium, in an attempt to force followers out of the innovation game. Second, policies (such as patents) that allow for strong protections of monopolies can reduce the steady state growth rate of the economy. Third, multiple equilibria arise when monopolies' protection is large.

Innovation in General Purpose Technologies : How Knowledge Gains when It Is Shared

Author : Nina Teichert
Publisher : KIT Scientific Publishing
ISBN 13 : 3866449151
Total Pages : 366 pages
Book Rating : 4.8/5 (664 download)

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Book Synopsis Innovation in General Purpose Technologies : How Knowledge Gains when It Is Shared by : Nina Teichert

Download or read book Innovation in General Purpose Technologies : How Knowledge Gains when It Is Shared written by Nina Teichert and published by KIT Scientific Publishing. This book was released on 2013 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book tackles the different aspects of the creation and transmission of knowledge in the context of the characteristics of a general purpose technology. Nanotechnology is investigated as showcase example. Particular emphasis is put on the role of the composition of knowledge as well as the corresponding knowledge spillovers on the one hand and on the concrete impact of collaboration and knowledge sharing in innovator networks on the other hand.

Constraining Development

Author : Rachel Denae Thrasher
Publisher : Anthem Press
ISBN 13 : 1785277634
Total Pages : 149 pages
Book Rating : 4.7/5 (852 download)

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Book Synopsis Constraining Development by : Rachel Denae Thrasher

Download or read book Constraining Development written by Rachel Denae Thrasher and published by Anthem Press. This book was released on 2021-07-06 with total page 149 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is a fundamental mismatch between the global trade rules as they govern international economic behaviour and the political economic factors influencing domestic policy making. It comes as no surprise, therefore, that the multilateral trading system is in crisis. Countries are increasingly turning to bilateral and regional (and mega-regional) trade deals to push forward their trade agenda. There is far less consensus around these next-generation trade agreements which reach into every aspect of domestic policy-making. At this time, more than ever, policy-makers, treaty negotiators, and scholars and students of international law need to understand the ways in which this growing regime of international trade and investment impacts regulatory decisions. This book demonstrates how seemingly disparate spheres of legal theory and practice (investment incentives, patent protection, land reform, etc.) are all linked together through the lens of international trade and investment, while also offering solutions in the form of new negotiating texts and country examples as a way forward toward a new multilateral trade and investment regime. Furthermore, each chapter identifies the regulatory challenges facing countries.

Schumpeter, Innovation and Growth

Author : Mümtaz Keklik
Publisher : Routledge
ISBN 13 : 1351753932
Total Pages : 198 pages
Book Rating : 4.3/5 (517 download)

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Book Synopsis Schumpeter, Innovation and Growth by : Mümtaz Keklik

Download or read book Schumpeter, Innovation and Growth written by Mümtaz Keklik and published by Routledge. This book was released on 2018-02-06 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title was first published in 2003. Bringing together contemporary innovation pattern theories inspired by the two original patterns developed by Joseph A. Schumpeter, this book develops an innovative new model of long wave aggregate level economic activity. This model is rigorously tested with post-war US manufacturing data, revealing an intriguing correlation between the data and the model. The book examines different theories of technological change, and provides a detailed account of the long wave which makes use of the relevant aspects of these theories, without betraying their main features and messages. These theories are synthesized and shown to be consistent with the development of post-war US manufacturing. Shedding light on the dynamics of the technological advances that have taken place in the last 20 years, economists and students alike will find this volume an invaluable read.

Variations in Economic Analysis

Author : J. Richard Aronson
Publisher : Springer Science & Business Media
ISBN 13 : 1441911820
Total Pages : 161 pages
Book Rating : 4.4/5 (419 download)

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Book Synopsis Variations in Economic Analysis by : J. Richard Aronson

Download or read book Variations in Economic Analysis written by J. Richard Aronson and published by Springer Science & Business Media. This book was released on 2010-01-14 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: For over fifty years, Eli Schwartz has inspired generations of economists through his prolific publications and dedicated in teaching. In 2008, the Martindale Center for the Study of Private Enterprise at Lehigh University invited prominent academics and practitioners—including Nobel Prize recipients, Robert Solow and Harry Markowitz, and former Chairman of the Economic Advisers to Ronald Reagan, Murray Weidenbaum—to contribute pieces that reflect their own approaches to issues that Schwartz has explored over the long span of his career. The twelve original essays cover a range of topics, including tax reform, corporate finance, fiscal policy, banking, economic growth, and globalization, representing a variety of methodologies, including economic theory, econometrics, and case analysis. The collection emphasizes the underlying connections among seemingly disparate facets of economic activity, and underscores the tremendous influence of Schwartz on economic analysis, policy, and leadership today.

Innovation, Competition and Welfare-Enhancing Monopoly

Author : Michael R. Darby
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Innovation, Competition and Welfare-Enhancing Monopoly by : Michael R. Darby

Download or read book Innovation, Competition and Welfare-Enhancing Monopoly written by Michael R. Darby and published by . This book was released on 2011 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: The basic competitive model with freely available technology is suited for static industries but misleading as applied to major innovative economies for which development of new technologies equals in magnitude around 10% of gross domestic investment. We distinguish free generic technology from proprietary technologies resulting from risky investment with uncertain outcome. The totality of possible outcomes drives the national innovation system and the returns to a particular successful technology cannot be compared to its own direct investment costs. Eureka moments are hardly ever self-enabling and incentives are required to motivate investment attempting to turn them into an innovation. The alternative to a valuable proprietary innovation is not the same innovation freely available but the unchanged generic technology. Growth is concentrated in any country at any time in a few firms in a few industries that are achieving metamorphic technological progress as a result of breakthrough innovations. So long as the entry and exit of firms using the generic technology sets the price in an industry, one or more price-taking firms can coexist with proprietary technologies yielding more or less substantial quasi-rents to the sunk development costs. Consumer welfare is increased if an innovator creates a proprietary technology such that the market equilibrium price is reduced and output increased. If the technological breakthrough is sufficiently large for the innovator to drive all generic producers out of the industry and increase output as a wealth-maximizing monopolist, consumer welfare is surely increased. After some time, the innovative technology will diffuse into an imitative generic technology. The best innovators develop a stream of innovations so that technological leaders can maintain their status as dominant firm or monopolist for extended periods of time despite lagged diffusion, and consumers benefit from this stream as well. The economics of an innovative nation are different from those of the no-growth stationary state which we teach and fall back on. We propose an ambitious agenda to integrate major research streams treating innovation as an object of economic analysis into our standard models.

Competitiveness and Economic Development in Europe

Author : Sławomir I. Bukowski
Publisher : Routledge
ISBN 13 : 1000373282
Total Pages : 269 pages
Book Rating : 4.0/5 (3 download)

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Book Synopsis Competitiveness and Economic Development in Europe by : Sławomir I. Bukowski

Download or read book Competitiveness and Economic Development in Europe written by Sławomir I. Bukowski and published by Routledge. This book was released on 2021-04-12 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: The success of an economy to adapt quickly, flexibly, and effectively to the demands of the changing international economic environment can only be investigated using the achievements of other national economies or regions as a benchmark. This book analyzes the fundamental factors of competitiveness, which will, in turn, facilitate economic development and growth, in the new post-crisis environment. In the economic, social, legal, and technological environment that has emerged in recent years, as well as in the period after the recent financial crisis, it is critical to define, assess, and implement new pathways to competitiveness and economic development. The book covers all aspects of competitiveness and economic growth, from financial intermediaries to tourism and the digital economy, and from regulation and corporate governance to exchange rate dynamics and monetary policy issues. It uses empirical findings from a variety of different countries with divergent economic structures and policies. It examines the new system of production, and the technological, commercial, financial and institutional environment, with the aim of recommending a proportional division of benefits and costs of economic growth. It offers a fresh, holistic, and flexible concept to underscore the new relationship between competitiveness and economic growth. Such an approach is needed, whereby competitiveness is no longer a zero-sum game between countries, but is achievable for all countries. The book recommends future directions and offers policy solutions, and as such, will appeal to students, researchers, and policymakers, as well as those interested in the role of competitiveness in the operation of markets, productivity, and economic development, and how it might foster innovation and growth.

Handbook of Economic Development

Author : Kuo-Tsai Liou
Publisher : CRC Press
ISBN 13 : 9780824701819
Total Pages : 768 pages
Book Rating : 4.7/5 (18 download)

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Book Synopsis Handbook of Economic Development by : Kuo-Tsai Liou

Download or read book Handbook of Economic Development written by Kuo-Tsai Liou and published by CRC Press. This book was released on 1998-06-25 with total page 768 pages. Available in PDF, EPUB and Kindle. Book excerpt: Featuring over 1900 references, drawings, and tables and drawing on disciplines as diverse as political economics, public management, and urban affairs, this versatile text offers comprehensive information on major policy and managerial issues important to local and national economic development. Pulling together the work of over 40 researchers, the book examines the role of government in economic advances and reform, provides a complete, up-to-date survey of the literature on local and national economic development, details local and regional economic progress in the US, adopts an innovative interdisciplinary approach to the study of economic expansion, and more.

International Business

Author : Brian Toyne
Publisher : Univ of South Carolina Press
ISBN 13 : 9781570030123
Total Pages : 728 pages
Book Rating : 4.0/5 (31 download)

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Book Synopsis International Business by : Brian Toyne

Download or read book International Business written by Brian Toyne and published by Univ of South Carolina Press. This book was released on 1997 with total page 728 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume explores the conceptual domain of international business inquiry, the constructs that hold promise for integrating the field, and the future directions that appear particularly fruitful for theory building and theory testing.

Managerial Economics

Author : Thomas J. Hailstones
Publisher : Prentice Hall
ISBN 13 :
Total Pages : 510 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Managerial Economics by : Thomas J. Hailstones

Download or read book Managerial Economics written by Thomas J. Hailstones and published by Prentice Hall. This book was released on 1985 with total page 510 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Rate and Direction of Inventive Activity Revisited

Author : Josh Lerner
Publisher : University of Chicago Press
ISBN 13 : 0226473031
Total Pages : 715 pages
Book Rating : 4.2/5 (264 download)

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Book Synopsis The Rate and Direction of Inventive Activity Revisited by : Josh Lerner

Download or read book The Rate and Direction of Inventive Activity Revisited written by Josh Lerner and published by University of Chicago Press. This book was released on 2012-04-15 with total page 715 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume offers contributions to questions relating to the economics of innovation and technological change. Central to the development of new technologies are institutional environments and among the topics discussed are the roles played by universities and the ways in which the allocation of funds affects innovation.

Growth, R&D Spillovers and the Role of Patent Systems

Author : Bruno van Pottelsberghe de la Potterie
Publisher : World Scientific
ISBN 13 : 981314114X
Total Pages : 892 pages
Book Rating : 4.8/5 (131 download)

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Book Synopsis Growth, R&D Spillovers and the Role of Patent Systems by : Bruno van Pottelsberghe de la Potterie

Download or read book Growth, R&D Spillovers and the Role of Patent Systems written by Bruno van Pottelsberghe de la Potterie and published by World Scientific. This book was released on 2017-08-30 with total page 892 pages. Available in PDF, EPUB and Kindle. Book excerpt: This invaluable book provides a comprehensive overview of twenty years of research on the economics of innovation and patent policies. Edited by Bruno van Pottelsberghe de la Potterie, the papers in this volume witness twenty years of advanced empirical research — triggered by intensive collaboration and inspired by his own professional experience at the OECD, METI and the European Patent Office. The Editor's publications in these fields have greatly contributed to better understand how innovation can be stimulated, how it can be measured, through which channels it contributes to growth, with a particular emphasis on the role of patent systems. In the introductory chapter, the Editor provides an overview of each subfield of investigation, by explaining the genesis of the research projects and adding some personal history. The book first displays major empirical findings on the effectiveness of science and technology policies in stimulating R&D, on how these policies affect the contribution of R&D to economic growth, and how to measure international R&D spillovers and what are their most effective channels. The policies that aim at stimulating innovation include R&D subsidies, public R&D, and R&D tax credits. The chapters that follow present foundational work on patent count methodologies aiming at improving innovation metrics, as well as creative contributions on patent valuation models. The book then presents pioneering contributions on the design of patent systems, including a thorough work on the role of fees, far-reaching analyses on quality, and critical contributions on the governance of patent systems in general and the European patent system in particular.

The Oxford Handbook of Capitalism

Author : Dennis C. Mueller
Publisher : Oxford University Press
ISBN 13 : 0199942595
Total Pages : 574 pages
Book Rating : 4.1/5 (999 download)

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Book Synopsis The Oxford Handbook of Capitalism by : Dennis C. Mueller

Download or read book The Oxford Handbook of Capitalism written by Dennis C. Mueller and published by Oxford University Press. This book was released on 2012-04-19 with total page 574 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial crisis that began in 2008 and its lingering aftermath have caused many intellectuals and politicians to question the virtues of capitalist systems. The 19 original essays in this Handbook, written by leading scholars from Asia, North America, and Europe, analyze both the strengths and weaknesses of capitalist systems. The volume opens with essays on the historical and legal origins of capitalism. These are followed by chapters describing the nature, institutions, and advantages of capitalism: entrepreneurship, innovation, property rights, contracts, capital markets, and the modern corporation. The next set of chapters discusses the problems that can arise in capitalist systems including monopoly, principal agent problems, financial bubbles, excessive managerial compensation, and empire building through wealth-destroying mergers. Two subsequent essays examine in detail the properties of the "Asian model" of capitalism as exemplified by Japan and South Korea, and capitalist systems where ownership and control are largely separated as in the United States and United Kingdom. The handbook concludes with an essay on capitalism in the 21st century by Nobel Prize winner Edmund Phelps.

In Defense of Monopoly

Author : Richard B. McKenzie
Publisher : University of Michigan Press
ISBN 13 : 0472901141
Total Pages : 554 pages
Book Rating : 4.4/5 (729 download)

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Book Synopsis In Defense of Monopoly by : Richard B. McKenzie

Download or read book In Defense of Monopoly written by Richard B. McKenzie and published by University of Michigan Press. This book was released on 2019-02-28 with total page 554 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Defense of Monopoly offers an unconventional but empirically grounded argument in favor of market monopolies. Authors McKenzie and Lee claim that conventional, static models exaggerate the harm done by real-world monopolies, and they show why some degree of monopoly presence is necessary to maximize the improvement of human welfare over time. Inspired by Joseph Schumpeter's suggestion that market imperfections can drive an economy's long-term progress, In Defense of Monopoly defies conventional assumptions to show readers why an economic system's failure to efficiently allocate its resources is actually a necessary precondition for maximizing the system's long-term performance: the perfectly fluid, competitive economy idealized by most economists is decidedly inferior to one characterized by market entry and exit restrictions or costs. An economy is not a board game in which players compete for a limited number of properties, nor is it much like the kind of blackboard games that economists use to develop their monopoly models. As McKenzie and Lee demonstrate, the creation of goods and services in the real world requires not only competition but the prospect of gains beyond a normal competitive rate of return.

"Technology Gap" Theory of International Trade

Author : Alessandro Goglio
Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.:/5 (3 download)

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Book Synopsis "Technology Gap" Theory of International Trade by : Alessandro Goglio

Download or read book "Technology Gap" Theory of International Trade written by Alessandro Goglio and published by . This book was released on 1991 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Against Intellectual Monopoly

Author : Michele Boldrin
Publisher : Cambridge University Press
ISBN 13 : 9780521127264
Total Pages : 306 pages
Book Rating : 4.1/5 (272 download)

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Book Synopsis Against Intellectual Monopoly by : Michele Boldrin

Download or read book Against Intellectual Monopoly written by Michele Boldrin and published by Cambridge University Press. This book was released on 2010-01-25 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Intellectual property" - patents and copyrights - have become controversial. We witness teenagers being sued for "pirating" music - and we observe AIDS patients in Africa dying due to lack of ability to pay for drugs that are high priced to satisfy patent holders. Are patents and copyrights essential to thriving creation and innovation - do we need them so that we all may enjoy fine music and good health? Across time and space the resounding answer is: No. So-called intellectual property is in fact an "intellectual monopoly" that hinders rather than helps the competitive free market regime that has delivered wealth and innovation to our doorsteps. This book has broad coverage of both copyrights and patents and is designed for a general audience, focusing on simple examples. The authors conclude that the only sensible policy to follow is to eliminate the patents and copyright systems as they currently exist.