| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4770 |
| DP4770 Economic and Regulatory Capital: What is the Difference? | |
| Rafael Repullo; Abel Elizalde | |
| 发表日期 | 2004-12-23 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | We set up a simple trade model with two countries hosting one firm each. The firms invest in cost-reducing R&D, and each government may grant R&D subsidies to the domestic firm. We show that it is optimal for a government to provide higher R&D subsidies the lower the level of trade costs, even if the firms are independent monopolies. If firms produce imperfect substitutes, policy competition may become so fierce that only one of the firms survives. International policy harmonization eliminates policy competition and ensures a symmetric outcome. However, it is shown that harmonization is not necessarily welfare-maximizing. The optimal coordinated policies may imply an asymmetric outcome with R&D subsidies to only one of the firms. |
| 主题 | International Trade and Regional Economics |
| 关键词 | Trade R&d Subsidies Process innovation |
| URL | https://cepr.org/publications/dp4770 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533686 |
| 推荐引用方式 GB/T 7714 | Rafael Repullo,Abel Elizalde. DP4770 Economic and Regulatory Capital: What is the Difference?. 2004. |
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