Competition, Innovation and Growth with Limited Commitment

Ramon Marimon and Vincenzo Quadrini

No 247, Working Papers from Barcelona School of Economics

Abstract: We study how barriers to business start-up affect the investment in knowledge capital when contracts are not enforceable. Barriers to business start-up lower the competition for knowledge capital and, in absence of commitment, reduce the incentive to accumulate knowledge. As a result, countries with large barriers experience lower income and growth. Our results are consistent with cross-country evidence showing that the cost of business start-up is negatively correlated with the level and growth of income.

Date: 2005-12
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Related works:
Working Paper: Competition, Innovation and Growth with Limited Commitment (2006)
Working Paper: Competition, Innovation and Growth with Limited Commitment (2006)
Working Paper: Competition, innovation and growth with limited commitment (2005)
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