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| Author: | Aghion, P. Dewatripont, M. Rey, P. |
| Title: | Competition, financial discipline and growth |
| Journal: | Review of Economic Studies
1999 : OCT, VOL. 66(4):229, p. 825-852 |
| Index terms: | ECONOMICS GROWTH COMPETITION |
| Language: | eng |
| Abstract: | The interaction between domestic competition and economic growth of a country or region is a topic of intense policy debate. For example, a highly-publicized book, Michael Porter (1990) strongly argues that there exists a positive causal relation between competition and growth. The main purpose of this paper is to introduce agency considerations in a growth context and more specifically to analyse the incentive effects of product market competition and financial market discipline on steady-state growth in a dynamic model with non profit-maximizing firms. |
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