A dual economy model of endogenous growth with R&D and market structure

Thanh Le

A chapter in Schumpeterian Perspectives on Innovation, Competition and Growth, 2009, pp 97-114 from Springer

Abstract: Abstract This paper develops a dual economy endogenous growth model to consider the effects of market structure and innovation on the rate of growth of an economy. There is an innovative goods sector where firms consistently invest in research and development to produce new products within a framework of monopolistic competition. Firms in the traditional goods sector produce a homogenous good, compete in a form of oligopoly (quantity competition), and seek to reduce their production costs. It is shown that growth is increasing in the market power that firms in the innovative goods sector obtain but decreasing in the equilibrium number of firms in the traditional goods sector.

Keywords: Market structure; R&D; Economic growth (search for similar items in EconPapers)
JEL-codes: D43 O31 O33 O41 (search for similar items in EconPapers)
Date: 2009
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DOI: 10.1007/978-3-540-93777-7_7

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