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| Author: | Grossmann, V. |
| Title: | Advertising, in-house R&D, and growth |
| Journal: | Oxford Economic Papers
2008 : JAN, VOL. 60:1, p. 168-191 |
| Index terms: | advertising expenditure R&D growth models |
| Language: | eng |
| Abstract: | A quality-ladder model of endogenous growth is developed to explore the interplay btw. in-house R&D and combative advertising expenditure with its implications for economic growth, firm size, and welfare. It is shown that, to some extent surprisingly, higher incentives to engage in advertising, although combative, unambiguously foster innovation activity of firms. This, possibly, leads to faster growth and even higher welfare. The results rest on the model's features being well-supported by empirical evidence. |
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