Competition, Innovation and Growth with Limited Commitment∗
نویسندگان
چکیده
We study how limited enforcement of contracts and barriers to business start-up affect the investment in knowledge capital and the adoption of new technologies. We show that barriers to business startup (limited competition) is the most important obstacle to growth. Limited enforceability of contracts is detrimental to growth only if there are barriers to business start-up. Our results are consistent with cross-country evidence.
منابع مشابه
Competition, human capital and income inequality with limited commitment
We develop a dynamic general equilibrium model with two-sided limited commitment to study how barriers to competition, such as restrictions to business start-up, a¤ect the incentive to accumulate human capital. We show that a lack of contract enforceability ampli es the e¤ect of barriers to competition on human capital accumulation. High barriers reduce the incentive to accumulate human capital...
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