a column by Maarten de Ridder for VOX: CEPR’s Policy Portal
The slowdown of productivity growth, the decline of business dynamism, and the rise of market power and firm concentration are three trends that have attracted a lot of attention in academic and policy debates.
This column points to the rising use of intangible inputs as a unified explanation for these trends. Firms with high intangible adoption disrupt sectors and initially boost productivity, but negatively affect the entry of new firms and suppress the effect of R&D on innovation and growth in the long run.
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Showing posts with label intangible_economy. Show all posts
Showing posts with label intangible_economy. Show all posts
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