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Monopolies Life Cycle, Bureaucratization and Schumpeterian Growth

Author

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  • Martimort, D.
  • Verdier, T.

Abstract

This paper analyzes the links between the internal organization of firms and macroeconomic growth. We present a Schumpeterian growth model in which firms face dynamic agency costs. These agency costs are due to the formation of vertical collusions within the organization. To respond to the opportunity of internal collusion, firms go through a whole life cycle, getting more bureaucratized and less efficient over time.

Suggested Citation

  • Martimort, D. & Verdier, T., 1999. "Monopolies Life Cycle, Bureaucratization and Schumpeterian Growth," Papers 1999-09, Laval - Laboratoire Econometrie.
    • Handle: RePEc:fth:lavale:1999-09
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    Cited by:

    1. Knobel, A., 2009. "Vertical Integration and Economic Growth: An Empirical Study," Journal of the New Economic Association, New Economic Association, issue 3-4, pages 54-70.
    2. David Martimort & Thierry Verdier, 2003. "From Inside The Firm to the Growth Process," Journal of the European Economic Association, MIT Press, vol. 1(2-3), pages 621-629, 04/05.
    3. Daron Acemoglu & Philippe Aghion & Fabrizio Zilibotti, 2003. "Vertical Integration and Distance to Frontier," Journal of the European Economic Association, MIT Press, vol. 1(2-3), pages 630-638, 04/05.

    More about this item

    Keywords

    MONOPOLIES ; LIFE CYCLE ; ECONOMIC GROWTH;
    All these keywords.

    JEL classification:

    • D42 - Microeconomics - - Market Structure, Pricing, and Design - - - Monopoly
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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