Dutch retail trade on the rise Relation between competition,荷兰零售贸易关于竞争的上升关系.pptVIP

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Dutch retail trade on the rise Relation between competition,荷兰零售贸易关于竞争的上升关系.ppt

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Does competition stimulate innovation and productivity in Dutch retail trade? Henry van der Wiel CPB Netherlands Bureau for Economic Policy Analysis CentER OECD Workshop on Productivity Analysis and Measurement, Bern, 16-18 October 2006 Outline Introduction/background Relation competition and innovation 2 research questions Model for innovation and productivity Data and empirical results Concluding remarks Background (I) Dutch retail trade on its return? Missed strong productivity growth of US since mid 1990s Gradually losing its strong position in EU since end of 1980s Labour productivity (per hours worked) relative to EU-average (EU=100), 1979-2002 Background (II):lack of competition and innovation? General belief that competition may stimulate productivity = static efficiency lower price margins efficient production (less X-inefficiencies) Likewise, innovation enhances productivity (growth) = dynamic efficiency Dutch policy measures in 1990s focussed on more competition New Competition Act in 1998 Regulatory reforms in retail trade = longer opening hours (1996) Competition and innovation:negative or positive? Negative relationship: Standard IO literature and most (early) endogenous growth models Schumpeter model: competition reduces monopoly rents and thus the expected pay off from innovation Positive relationship: mostly based on empirics Paper of Nickell (1996): competition is good for innovation New development = inverted U-shaped curve Combining both theoretical ideas Empirically supported by Aghion et al. (2005, QJE) for UK Competition and innovation: inverted U-curve? Inverted U: composition effect Weak competition: industry is relatively often in a level state = increase in competition stimulates innovation by the escape effect Intense competition: industry is often unlevelled= increase in competition reduces innovation because there is little incentive for laggards to catch up Two questions Did competition affect innovation in D