On Economics of Innovation Subsidies in Russia

On Economics of Innovation Subsidies in Russia

Following the general agreement that innovation is a source of economic growth, the Russian government has provided various stimuli to foster domestic innovation. One of the mechanisms of innovation policy is research subsidies. This policy brief starts off with a discussion of the theoretical predictions...
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Too High or Too Low? The Pros and Cons of Regulating the Reserve Price in Public Procurement in Russia.

In theory, an optimally set reserve price leads to an optimal outcome in all standard auctions. In reality, however, it is difficult to identify the optimal reserve price. In public procurement auctions, a higher reserve price may lead to a higher competition for the contract,...
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Does Product Market Competition Cause Capital Constraints?

At the very center of Schumpeter’s (1934, 1942) notion of creative destruction is firms’ access to bank capital, which helps to fund the innovation in competitive product markets that drives out less productive firms in favor of those with more profitable ideas. However, competition is...
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Can Public Enforcement of Competition Policy Increase Distortions in the Economy?

Authors: Vasiliki Bageri, University of Athens, Yannis Katsoulacos, Univeristy of Athens,  and Giancarlo Spagnolo, SITE. Competition law has recently been introduced in a large number of developed and emerging economies. Most of these countries adopted the common practice of basing antitrust fines on affected commerce...
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