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dc.contributor.authorAnderlini, Luca
dc.contributor.authorFelli, Leonardo
dc.contributor.authorImmordino, Giovanni
dc.contributor.authorRiboni, Alessandro
dc.date.accessioned2011-12-05T12:15:29Z
dc.date.available2011-12-05T12:15:29Z
dc.date.issued2011
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/7722
dc.language.isoenen
dc.subjectLegal systemen
dc.subjectCommitmenten
dc.subjectflexibilityen
dc.subjectinnovationen
dc.subjectGrowthen
dc.subject.ddc338.9en
dc.subject.classificationjelO3en
dc.subject.classificationjelO43en
dc.subject.classificationjelL51en
dc.subject.classificationjelE61en
dc.titleLegal Institutions, Innovation and Growthen
dc.typeDocument de travail / Working paper
dc.contributor.editoruniversityotherUniversité de Montréal;Canada
dc.contributor.editoruniversityotherLondon School of Economics;Royaume-Uni
dc.contributor.editoruniversityotherGeorgetown University;États-Unis
dc.description.abstractenWe analyze the relationship between legal institutions, innovation and growth. We compare a rigid (law set ex-ante) legal system and a exible one (law set after observing current technology). The exible system dominates in terms of welfare, amount of innovation and output growth at intermediate stages of technological development - periods when legal change is needed. The rigid system is preferable at early stages of technological development, when (lack of) commitment problems are severe. For mature technologies the two legal systems are equivalent. We nd that rigid legal systems may induce excessive (greater than rst-best) R&D investment and output growth.en
dc.publisher.nameUniversité Paris-Dauphineen
dc.publisher.cityParisen
dc.identifier.citationpages42en
dc.relation.ispartofseriestitleCahier de recherche FBF Chaire de Finance d'entrepriseen
dc.relation.ispartofseriesnumber2011-17en
dc.description.sponsorshipprivateouien
dc.subject.ddclabelCroissance et développement économiquesen


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