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Product Market Competition, Creative Destruction and Innovation

Rachel Griffith and John van Reenen

No 16763, CEPR Discussion Papers from C.E.P.R. Discussion Papers

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.

Keywords: Competition; Innovation; Creative destruction (search for similar items in EconPapers)
JEL-codes: B20 L13 L40 O31 O32 (search for similar items in EconPapers)
Date: 2021-11
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Working Paper: Product market competition, creative destruction and innovation (2021) Downloads
Working Paper: Product market competition, creative destruction and innovation (2021) Downloads
Working Paper: Product market competition, creative destruction and innovation (2021) Downloads
Working Paper: Product market competition, creative destruction and innovation (2021) Downloads
Working Paper: Product market competition, creative destruction and innovation (2021) Downloads
Working Paper: Product market competition, creative destruction and innovation (2021) Downloads
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