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dc.contributor.author	Aghion, Philippe
dc.contributor.author	Howitt, Peter
dc.contributor.author	Griffith, Rachel
dc.contributor.author	Blundell, Richard
dc.contributor.author	Bloom, Nick
dc.date.accessioned	2010-10-14T15:27:33Z
dc.date.issued	2005
dc.identifier.citation	Aghion, Philippe, Nick Bloom, Richard Blundell, Rachel Griffith, and Peter Howitt. 2005. Competition and innovation: An inverted-U relationship. Quarterly Journal of Economics 120, no. 2: 701-728.	en_US
dc.identifier.issn	1531-4650	en_US
dc.identifier.issn	0033-5533	en_US
dc.identifier.uri	http://nrs.harvard.edu/urn-3:HUL.InstRepos:4481507
dc.description.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.	en_US
dc.description.sponsorship	Economics	en_US
dc.language.iso	en_US	en_US
dc.publisher	MIT Press	en_US
dc.relation.isversionof	http://dx.doi.org/10.1162/0033553053970214	en_US
dc.relation.hasversion	http://www.economics.harvard.edu/faculty/aghion/files/comp_and_innov.pdf	en_US
dash.license	LAA
dc.title	Competition and Innovation: An Inverted-U Relationship	en_US
dc.type	Journal Article	en_US
dc.description.version	Version of Record	en_US
dc.relation.journal	Quarterly Journal of Economics	en_US
dash.depositing.author	Aghion, Philippe
dc.date.available	2010-10-14T15:27:33Z

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