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| LEADER | 03650nam a2200409Ki 4500 | |
| 001 | 991022264481802122 | |
| 005 | 20180501100201.0 | |
| 006 | m o d | |
| 007 | cr ||||||||||| | |
| 008 | 180423s2018 enka ob 000 0 eng d | |
| 035 | $a(OCoLC)1032009059 | |
| 035 | $a(OCoLC)on1032009059 | |
| 035 | $a(EXLNZ-01UWI_NETWORK)9912470945102121 | |
| 040 | $aGZM$beng$erda$cGZM | |
| 049 | $aGZMA | |
| 100 | 1_ | $aAkcigit, Ufuk,$eauthor. |
| 245 | 10 | $aInnovation and trade policy in a globalized world /$cUfuk Akcigit, Sina T. Ateş and Giammario Impullitti. |
| 264 | _1 | $aLondon :$bCentre for Economic Policy Research,$c2018. |
| 300 | $a1 online resource (77 pages) :$billustrations. | |
| 336 | $atext$btxt$2rdacontent | |
| 337 | $acomputer$bc$2rdamedia | |
| 338 | $aonline resource$bcr$2rdacarrier | |
| 490 | 1_ | $aDiscussion paper series,$x0265-8003 ;$vno. 12888$aInternational trade and regional economics$aMacroeconomics and growth |
| 588 | $aDescription based on online resource; title from http://www.cepr.org/active/publications/discussion_papers/dp.php?dpno=12888 viewed April 23, 2018. | |
| 500 | $a"Published 23 April 2018" | |
| 500 | $a"Submitted 23 April 2018" | |
| 504 | $aIncludes bibliographical references (pages 55-59). | |
| 520 | $aHow do import tariffs and R&D subsidies help domestic firms compete globally? How do these policies affect aggregate growth and economic welfare? To answer these questions, we build a dynamic general equilibrium growth model where firm innovation endogenously determines the dynamics of technology, and, therefore, market leadership and trade flows, in a world with two large open economies at different stages of development. Firms' R&D decisions are driven by (i) the defensive innovation motive, (ii) the expansionary innovation motive, and (iii) technology spillovers. The theoretical investigation illustrates that, statically, globalization (defined as reduced trade barriers) has ambiguous effects on welfare, while, dynamically, intensified globalization boosts domestic innovation through induced international competition. Accounting for transitional dynamics, we use our model for policy evaluation and compute optimal policies over different time horizons. The model suggests that the introduction of the Research and Experimentation Tax Credit in 1981 proves to be an effective policy response to foreign competition, generating substantial welfare gains in the long run. A counterfactual exercise shows that increasing tariffs as an alternative policy response improves domestic welfare only when the policymaker cares about the very short run, and only when introduced unilaterally. Tariffs generate large welfare losses in the medium and long run, or when there is retaliation by the foreign economy. Protectionist measures generate large dynamic losses by distorting the impact of openness on innovation incentives and productivity growth. Finally, our model predicts that a more globalized world entails less government intervention, thanks to innovation-stimulating effects of intensified international competition. | |
| 650 | _0 | $aResearch, Industrial$xEconomic aspects$xEconometric models. |
| 650 | _0 | $aCommercial policy$xEconometric models. |
| 650 | _0 | $aEconomic development$xEconometric models. |
| 650 | _0 | $aGlobalization$xEconometric models. |
| 700 | 1_ | $aAteş, Sina T.,$eauthor. |
| 700 | 1_ | $aImpullitti, Giammario,$eauthor. |
| 710 | 2_ | $aCentre for Economic Policy Research (Great Britain),$epublisher. |
| 830 | _0 | $aDiscussion paper (Centre for Economic Policy Research (Great Britain)) ;$vno. 12888. |
| 856 | 40 | $uhttp://www.cepr.org/active/publications/discussion_papers/dp.php?dpno=12888 |