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First Published in 1998. Routledge is an imprint of Taylor & Francis, an informa company.

This book investigates the determinants of technological change at the industry level and its role, in conjunction with capital investment, in the process of aggregate economic growth to illustrate the trade-off between growth in the short term and in the long run. The study identifies competition in research and development (R&D) and in output markets as key determinants of the intensity of research, which in turn determines the technological evolution of an industry. The extent of competition itself, however, depends on the opportunities for technological innovation. Relationships between...