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Full-Text Articles in Social and Behavioral Sciences
Innovation, Firm Size Distribution, And Gains From Trade, Yi-Fan Chen, Wen-Tai Hsu, Shin-Kun Peng
Innovation, Firm Size Distribution, And Gains From Trade, Yi-Fan Chen, Wen-Tai Hsu, Shin-Kun Peng
Research Collection School Of Economics
We study a trade model with monopolistic competition a la Melitz (2003) that is standard except that firm heterogeneity is endogenously determined by firms innovating to enhance their productivities. We show that the equilibrium productivity and firm-size distributions exhibit power-law tails under rather general conditions on demand and technology. In particular, the emergence of the power laws is essentially independent of the underlying primitive heterogeneity among firms. We investigate the model’s welfare implications, and conduct a quantitative analysis of welfare gains from trade. We find that, conditional on the same trade elasticity and values of the common parameters, our model …
The National Innovation System Of Singapore, Winston T. H. Koh, Phillip Phan
The National Innovation System Of Singapore, Winston T. H. Koh, Phillip Phan
Research Collection School Of Economics
No abstract provided.
The Making Of An Innovator, Hian Teck Hoon
The Making Of An Innovator, Hian Teck Hoon
Research Collection School Of Economics
Innovators experiment with things to come up with new ideas to improve the quality of existing products, develop differentiated or new products and re-organise business processes to lower costs. In a big corporation, there might be a whole R&D department where innovators are employed to design new blueprints so the company can constantly make new offerings. But innovators can also be found in small enterprises tinkering with recipes, for example, to win new customers. Innovators no doubt derive pleasure from their creative work. Yet, in modern economies, they must be employed in a firm that successfully translates their innovative activity …
From Efficiency-Driven To Innovation-Driven Economic Growth: Perspectives From Singapore, Kim Song Tan, Sock-Yong Phang
From Efficiency-Driven To Innovation-Driven Economic Growth: Perspectives From Singapore, Kim Song Tan, Sock-Yong Phang
Research Collection School Of Economics
The Singapore economy is going through a period of major restructuring. Economic stagnation since the 1997 Asia financial crisis (except for a brief recovery in 1999) has called into question the continued relevance of many fundamental policies that had worked well in the past. In 2002, a high-level Economic Review Committee (ERC) was convened by the government to chart new directions for the economy. A common thread that ran through the committee’s various reports was a call to enhance the economy’s innovative capacity, with the aim of making Singapore an innovation hub in the region. The call reflects an increased …