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http://hdl.handle.net/10419/24461
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| Title: | | Innovation dynamics and endogenous market structure: econometric results from aggregated survey data  |
| Authors: | | Gottschalk, Sandra Janz, Norbert |
| Issue Date: | | 2001 |
| Series/Report no.: | | ZEW Discussion Papers 01-39 |
| Abstract: | | This paper examines empirically the relationship between innovation and market structure within a simultaneous framework at the industry level of aggregation. We use a model in which R&D affects both, demand and cost conditions. An optimization process leads to optimal industry R&D expenditure and market structure in a symmetric equilibrium. The model is applied to a newly constructed panel for Germany. Generalized Method of Moments (GMM) estimation techniques for dynamic panel data systems are used to estimate the parameters of interest. We found a positive long?run effect of R&D on markets? sales concentration. In contrast, competition enforces innovation, i.e. sales concentration has a negative impact on R&D. |
| Subjects: | | innovation R&D market structure panel data dynamic models applied econometrics |
| JEL: | | L60 C33 L11 O31 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des ZEW ZEW Discussion Papers
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