XII Международная научная конференция по проблемам развития экономики и общества. В четырех книгах. Книга 4.
When a firm faces obstacles for doing business it has two ways to overcome them. One way implies individual strategy when the firm tries to solve the problem itself. The alternative way is to cooperate with other firms that would also benefit from that action and solve the problem jointly. This paper focuses on the ways of how firms solve the problem of not beneficial existing laws and regulations and study the factors that determine the choice of firm strategy.
This paper analyses an extended version of creative destruction model with strategic complimentarity between R&D investment of firms and education investment of households [Aghion, Howitt, 1992; 2005]. The new assumption is that the probability of innovation in the productive sector is determined endogenously because it depends on the level of human capital in the economy. This model provides a framework to explain the coexistence of two long-run equilibria: zero growth equilibrium and sustainable positive growth equilibrium transition as well as the transition from zero growth to high-growth equilibrium. The model provides explanation for a convergence club phenomenon: some developing countries experience the absence of growth during the years, while others are characterized by catching-up process to the income level of developed countries.