러너지수를 이용한 시장구조와 기술혁신의 상관관계에 대한 연구

초록

This article contributes to the literature on competition and innovation. For Schumpeter, a rise in competition is expected to decrease rents stemming from innovation and thus incentives to innovate. However, Arrow considered that competition may encourage innovation. Incumbents may innovate to keep their market power and fend off new entrants, or potential entrants may hope to capture the market position of incumbents by surpassing them with new and better products. This paper explores the relationship between technological innovation and competition using the number of patents and Lerner Index rather than R&D expenditure and Herfindahl concentration index chosen by most previous researches. The empirical results are summarized as follows. First, we find a inverted-U relationship between competition and technological innovation in Korean manufacturing industries. This findings are robust over several different specifications. Second, the estimation results show that the firm size is positively associated with technological innovation. Larger firms may be better-positioned to finance large-scale R&D efforts, have scale advantage

키워드