Curriculum Vitae Rachel GRIFFITH, CBE FBA Professional History Date of Birth: 16 May 1963

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CurriculumVitae
RachelGRIFFITH,CBEFBA
DateofBirth:16May1963
Citizenship:UKandUS
ProfessionalHistory
2010–current
UniversityofManchester
Professor(2010-)
2003–2010 UniversityCollegeLondon
DeputyHeadofDepartment(2008-2010)
Professor(2007-2010)
Reader(2003-2007)
1993–current
InstituteforFiscalStudies,London
ResearchDirector(2016-current)
DeputyResearchDirector(2006-2015)
DeputyDirector(2002–2006)
Director,ProductivityandInnovationResearch(1997-2002)
SeniorResearchEconomist(1993-1997)
2001–2002 CompetitionCommission
SeniorEconomist(half-time)
1999–2000 UniversityofCaliforniaatLosAngeles,USA
VisitingProfessor
1991–1993 CityofLondonPolytechnic,London
Part-timeLecturer
1986–1993 EIRISServicesLtd.,London
HeadofResearch
Education/Qualifications
1993–1999 Ph.D.(part-time)
KeeleUniversity,UK
1989–1991 M.Sc.EconometricsandForecasting CityofLondonPolytechnic,UK
1982–1985 B.A.MagnaCumLaude(Economics) UniversityofMassachusetts,
Boston,USA
AwardsandProfessionalActivities
2015
AwardedaCBEintheQueensBirthdayHonoursList
2015
AwardedTheSchumpeterSchoolAwardforBusinessandEconomic
Analysis,WuppertalGermany
2015
AwardedDistinguishedAchievementMedal-ResearcheroftheYear,
UniversityofManchesterFacultyofHumanities
2014
Winner,BirgitGrodalAward
2013
ElectedPresidentEuropeanEconomicAssociationtoservein2015
(2013VicePresident,2014PresidentElect,2015President,2016PastPresident)
2011-
JointManagingEditor,EconomicJournal
2011-2014
MemberofREF2014Sub-panel18
2011
ProgrammeChair,RoyalEconomicSocietyAnnualConference
2009-
ElectedFellowoftheBritishAcademy,SectionChair(2012-2014)
2009
MemberoftheRoyalSociety'sAdvisoryGrouponthe"TheFruitsof
Curiosity:science,innovationandfuturesourcesofwealth"project
2006-2010
ElectedCouncilMember,RoyalEconomicSociety
2006
MemberofPanelofExpertsfortheBarkerReviewofLandUse
Planning
2005-2011
ExecutiveCommitteeMemberandElectedCouncilMember,European
EconomicAssociation
2005-
AcademicPanellist,HMTreasuryProductivityTeam
2004-2006
AcademicPanellist,CompetitionCommission
2004-2005
Editor,EconomicJournalConferenceVolume
2002-2011
Director(from2006)andBoardMember,ReviewofEconomicStudies
2001-2004
RoyalEconomicSocietyConferenceProgrammeCommittee
2000-2003
ElectedmemberofRoyalEconomicSocietyCommitteeonWomenin
Economics
2000-2001
ExpertAdvisortoEuropeanCommissiononCorporateTaxationand
Innovation
1999-
ResearchAffiliate,CentreforEconomicPolicyResearch(CEPR),London
1997-2002
HonoraryResearchFellow,UniversityCollegeLondon.
1999
Co-editor,InternationalTaxandPublicFinanceSpecialVolume
1998
Co-chairofInstituteofInternationalPublicFinanceconferenceon
Publicfinance,employmentandlabourmarkets,Argentina24-27
August1998
1995-1999
JointManagingEditor,FiscalStudies
ResearchGrants
2015-2020
£7,385,577
ESRC
Co-Director,ESRC“Centreforthe
MicroeconomicAnalysisofPublicPolicy”
atInstituteforFiscalStudies
2016-2018
£325,924
ESRC-ANR
PrincipalInvestigator,“Food
consumption,advertisinganddynamics"
2011-2014
£738,177
ESRC-ANR
PrincipalInvestigator,“Developing
RobustMethodsforEvaluatingPolicies
intheMarketsforFoodandNutrition"
2010-2015
€1,626,261
ERC
PrincipalInvestigator,ERC
“MicroeconomicAnalysisofPrices,Food
andNutrition"
2010-2015
£7,813,810
ESRC
Co-Director,ESRC“Centreforthe
MicroeconomicAnalysisofPublicPolicy”
atInstituteforFiscalStudies
2010-2011
£67,300
ESRC
2009-2010
£1,166,000
ESRC
PrincipalInvestigator,“Taxes,firm
heterogeneityandthelocationof
intellectualproperty
Co-Director,ESRC“Centreforthe
MicroeconomicAnalysisofPublicPolicy”
atInstituteforFiscalStudies
2007-2008
£49,477
MRC
2007-2010
£120,000
ESRC/EPSRC PrincipalInvestigator“Globalisationand
Innovation”
2005-2009
£3,369,374
ESRC
Co-Director,ESRC“Centreforthe
MicroeconomicAnalysisofPublicPolicy”
atInstituteforFiscalStudies
2005-2009
£140,128
ESRC
PrincipalInvestigator,“ProductMarket
Competition,Technologyand
Productivity”
2005
€147,000
European
Commission
PrincipalInvestigator,“Thelinkbetween
productmarketreformandinnovation”
PrincipalInvestigator,“Thetreatmentof
intellectualpropertyandlicensing
agreements”
2004-2006
£450,000
ESRC/EPSRC AIMFellowship
2003-2004
£70,000
HMTreasury FiscaltreatmentofResearchand
TechnologyOrganisations
2003
€50,000
European
Commission
PrincipalInvestigator,“Thelinkbetween
productmarketreformandmacroeconomicperformance”
2003-2005
£230,000
Gatsby
PrincipalInvestigator“Innovationand
Entrepreneurship”
2003-2004
€100,000
European
Commission
Co-applicant,“Innovationand
EmploymentinEuropeanFirms:
MicroeconometricEvidence”
2002
£11,304
HMTreasury PrincipalInvestigator,“Matchingmicro
dataonresearchanddevelopmentto
productiondata”
2002
£10,000
Northern
Ireland
Economic
Council
2001-2002
£150,000
GatsbyTrust PrincipalInvestigator,“Theimpactof
foreignmultinationalsonUKlabour
markets”
1999-2002
£287,296
Leverhulme
Trust
Co-applicant,“Investmentand
innovationinachangingworld”
1996
£29,260
ESRC
PrincipalInvestigator,Innovationand
FiscalIncentivesforR&D
PrincipalInvestigator,“Evaluationof
FinancialSelectiveAssistanceGrants”
SELECTED INVITED PRESENTATIONS
“DoesStarbuckspayenoughtax”RoyalEconomicSocietyPublicLecture,24November
2015,http://www.res.org.uk/view/lectureEduTraining.html
"Gluttonyandsloth:long-runchangesinbodyweight,dietandlabourmarketactivity",
PresidentialAddressattheEuropeanEconomicAssociationAnnualCongress,
Mannheim,August2015
"Gluttonyandsloth:long-runchangesinbodyweight,dietandlabourmarketactivity",
presentedattheSpringMeetingofYoungEconomists,Ghent,May2015
"Food,nutritionandpublicpolicy",presentationattheZurichWorkshoponEconomics,
SolothurnSwitzerland,September2014
"Governmentinterventioninfoodmarketswhenfirmreact",Keynotepresentationat
AustralianConferenceofEconomists,Tasmania,July2014
"Multinationalfirms,intellectualpropertyandcorporateincometaxes",Presentationat
theAustrilianTreasury,July2014
"Gluttonyandsloth",presentedattheWomen'sEconomistNetwork(WEN),London,
June2014
"Governmentinterventioninfoodmarkets",presentationatCPP10thAnnualSummer
Conference'ProblemMarkets'onJune12th–13thatUniversityofEastAnglia
"Governmentinterventioninfoodmarkets",presentationattheDepartmentfor
Business,InnovationandSkills,10June2014
"Governmentinterventioninfoodmarketswhenfirmreact",Keynotepresentationat
IrishAnnualEconomicConference,Limerick,8May2014
"Multinationalfirms,intellectualpropertyandtaxation"InvitedlecturePeking
University,November2013
"Multinationalfirms,intellectualpropertyandtaxation"GlobalEconomyLecture,
AustrianNationalBank,10October2013
"CanresearchandinnovationfueltheUKeconomy?"AcademyofMedicalSciences,
BritishAcademy,RoyalAcademyofEngineeringandRoyalSocietyConservativeParty
Conferencefringeevent,1October2013
"Taxliesandvideotape"interviewonPanorama,September2013
"Demandforfruitandvegetables:theimpactof5aday"PresentationinSpecialSession
atAEAJanuary2012,
"FoodpricesintheUK"presentationtotheOfficeofFairTrading(OFT),November2011
"HowcantheUKachievesustainablegrowthinthefuture?",InvitedspeakeratThe
StrategyUnitandtheDepartmentforBusiness,InnovationandSkillsmeeting
KeynotespeakeratTheBrusselsEconomicForummeetingonCompetition,Innovation
andGrowth,2006
Keynotespeaker,EuropeanAreaBusinessCycleNetwork,Helsinki,2005
Keynotespeaker,ZEWConferenceontheEconomicsofInnovationandPatenting
Mannheim2005
Invitedspeaker,EuropeanEconomicAssociationAnnualMeeting,Amsterdam
2005
ZeuthenLecture(withPhilippeAghion),Copenhagen2003
Invitedspeaker,EuropeanEconomicAssociationAnnualMeeting,Stockholm2003
Invitedspeaker,RoyalEconomicSociety,Warwick2002
Publications(refereedjournalsandbooks)
Griffith,R,MO'ConnellandKSmith(2015)"Theimportanceofproductreformulation
versusconsumerchoiceinimprovingdietquality"forthcomingEconomica
Griffith,R,RLluberasandMLuhrmann(2016)"Gluttonyandsloth:long-runchangesin
bodyweight,dietandlabourmarketactivity",forthcominginJournaloftheEuropean
EconomicAssociation
Griffith,R,MO'ConnellandKSmith(2015)"ShoppingAround:HowHouseholds
AdjustedFoodSpendingOvertheGreatRecession"Economica,DOI:
10.1111/ecca.12166
Griffith,R,MO'ConnellandKSmith(2015)"Relativeprices,consumerpreferences,and
thedemandforfood"OxfordReviewofEconomicPolicy31(1),116-130
Griffith,R,HMillerandMO'Connell(2014)"OwnershipofIntellectualPropertyand
CorporateTaxation"JournalofPublicEconomics,111,12-23
Dubois,P,RGriffithandANevo(2014)"DoPricesandAttributesExplainInternational
DifferencesinFoodPurchases?"AmericanEconomicReview,104:3,832-867
Griffith,RandLNesheim(2013)"Hedonicmethodsforbasketsofgoods"Economic
Letters,120,284-287
Griffith,RandGMacartney(2013)"EmploymentProtectionLegislation,Multinational
FirmsandInnovation"ReviewofEconomicsandStatistics,96:1,135-150
Griffith,R.,Lee,S.andJ.VanReenen(2011)"Isdistancedyingatlast?Fallinghomebias
infixedeffectsmodelsofpatentcitations"QuantitativeEconomics2(2011),211–
249
Griffith,RandMO'Connell(2010)"PublicPolicyTowardsFoodConsumption"Fiscal
StudiesVol31,No.4,481-507
Griffith,Rachel,RupertHarrisonandHelenSimpson(2010)"Productmarketreforms
andinnovationintheEU"ScandinavianJournalofEconomics,112(2),June2010,
389-415
Acemoglu,D.,P.Aghion,R.GriffithandF.Zilibotti(2010)"VerticalIntegrationand
Technology:TheoryandEvidence"JournaloftheEuropeanEconomicAssociationVol
8,Issue5,989-1033
Griffith,RandMO'Connell(2009)"Theuseofmarketresearchdataforresearchinto
nutrition"FiscalStudiesDecember2009
Griffith,R,SReddingandHSimpson(2009)"TechnologicalCatch-upandGeographic
Proximity"JournalofRegionalScience,49(4),.689–720
Griffith,Rachel,EphraimLeibtag,AndrewLeicesterandAvivNevo(2009),“Consumer
shoppingbehavior:howmuchdoconsumerssave?”JournalofEconomic
Perspectives,Vol.23,No.2,pp.99-120
Griffith,R.andA.Neely(2009)"Incentivesandmanagerialexperienceinmulti-task
teams:evidencefromwithinafirm"JournalofLaborEconomics,,vol.27,no.1,pp.
49-82
Aghion,P.,R.Blundell,R.Griffith,P.HowittandS.Prantl(2009)‘Theeffectsofentryon
incumbentinnovationandproductivity’,ReviewofEconomicsandStatistics,Vol.91,
No.1,pp.20-32
Griffith,R.,J.HinesandP.B.Sørensen(2009)‘Internationalcapitaltaxation’,in
Reformingthetaxsystemforthe21stcentury(edsBlundell,Mirrlees,Poterba),
OxfordUniversityPress,forthcoming
Griffith,R.(2007)‘Technology,ProductivityandPublicPolicy’FiscalStudiesSeptember
2007
Devereux,M.P.,R.GrifithandH.Simpson(2007)‘Agglomeration,regionalgrantsand
firmlocation’,JournalofPublicEconomics,91,413-435,April2007
Griffith,R.,R.HarrisonandG.Macartney(2007)‘Productmarketreforms,labour
marketinstitutionsandunemployment’,EconomicJournal,117,C142-C166(1),
March2007
Griffith,R.,J.HaskelandA.Neely(2006)‘Whyisproductivitysodispersed?’Oxford
ReviewofEconomicPolicy,Vol22,No.4,Winter2006
Griffith,R.,E.Huergo,J.MairesseandB.Peters(2006)‘Innovationandproductivity
acrossfourEuropeancountries’OxfordReviewofEconomicPolicy,Vol22,No.4,
Winter2006
Aghion,P.,R.GriffithandP.Howitt(2006)‘TheU-shapedrelationshipbetweenvertical
integrationandcompetition:theoryandevidence’,InternationalJournalofEconomic
Theory,2,351-363,Sept2006
Griffith,R.,R.HarrisonandJ.VanReenen(2006)‘Howspecialisthespecialrelationship?
UsingtheimpactofUSR&DspilloversonUKfirmsasatestoftechnologysourcing’,
AmericanEconomicReview,96,1859-1875,Dec2006
Aghion,P.,R.GriffithandP.Howitt(2006)‘Verticalintegrationandcompetition’,
AmericanEconomicReviewPapersandProceedings,96,97-102,May2006
Abramovsky,L.andR.Griffith(2006)‘Outsourcingandoffshoringofbusinessservices:
theroleofICT’,JournaloftheEuropeanEconomicAssociation,4,594-601,May2006
Aghion,P.,N.Bloom,R.Blundell,R.GriffithandP.Howitt(2005)‘Competitionand
innovation:aninvertedUrelationship’,QuarterlyJournalofEconomics,120,701-728,
May2005
GriffithR.,andHHarmgart(2005)‘RetailProductivity’TheInternationalReviewof
Retail,DistributionandConsumerResearch,Vol.15,No.3,281–290,July2005
Aghion,P.andR.Griffith(2005)CompetitionandGrowth,MITPress,Cambridge,MA,
Aug2005
Devereux,M.P.,R.GriffithandAKlemm(2004)‘WhyhastheUKcorporationtaxraised
somuchmoney?’FiscalStudiesDecember2004
Geroski,P.andR.Griffith(2004)‘Identifyinganti-trustmarkets’InternationalHandbook
ofCompetitionM.NeumannandJ.Weigand(eds)EdwardElgar,December2004
Griffith,R.,S.ReddingandJ.VanReenen(2004)‘MappingthetwofacesofR&D:
productivitygrowthinapanelofOECDindustries’,ReviewofEconomicsand
Statistics,86(4),Nov2004
Griffith,R.,HSimpsonandSRedding(2004))‘ForeignOwnershipandProductivity:New
EvidencefromtheServiceSectorandtheR&DLab’OxfordReviewofEconomic
Policy,20:3,pp440-456
Aghion,P.,R.Blundell,P.Howitt,R.GriffithandS.Prantl(2004)‘Entryandproductivity
growth:evidencefrommicro-leveldata’JournaloftheEuropeanEconomic
Association,2,265-276
Devereux,M.P.,R.GriffithandH.Simpson(2004)‘Thegeographicdistributionof
productionactivityintheUK’,RegionalScienceandUrbanEconomics,34,533-564,
Sept2004
Griffith,R.andHSimpson(2004)‘Characteristicsofforeign-ownedfirmsonUK
manufacturingproductivity’inR.Blundell,D.CardandR.Freeman(eds)Creatinga
PremierLeagueEconomy,TheUniversityofChicagoPress,2004
Griffith,R.,SReddingandJVanReenen(2004)‘R&Dandabsorptivecapacity:from
theorytodata’TheScandanavianJournalofEconomics,Volume105,Issue1,pp99118,2003
Devereux,M.P.andR.Griffith(2003)‘Evaluatingtaxpolicyforlocationdecisions’,
InternationalTaxandPublicFinance,10(2),107-126,March2003
Bloom,N,LChennells,RGriffithandJVanReenen(2002)“HowHasTaxAffectedthe
ChangingCostofR&D?EvidencefromEightCountries"inTheRegulationofScience
andTechnology,H.L.Smith(ed.),Macmillan:London
Devereux,M.P.,R.GriffithandA.Klemm(2002)‘Corporateincometaxreformsand
internationaltaxcompetition’,EconomicPolicy,35,451-495
Bloom,N.,R.GriffithandJ.VanReenen(2002)‘DoR&Dtaxcreditswork?Evidencefrom
aninternationalpanelofcountries1979-97’,JournalofPublicEconomics,85,1-31,
July2002
Devereux,M.P.andR.Griffith(2000)‘TheImpactofCorporateTaxationontheLocation
ofCapital:AReview’SwedishEconomicPolicyReviewVol.9,No.1,2000
Blundell,R.,R.GriffithandF.Windmeijer(2002)‘Individualeffectsanddynamicsin
countdatamodels’,JournalofEconometrics,108,113-131,May2002
Bloom,NandRGriffith(2001)“TheinternationalisationofR&D”FiscalStudies22:3,
337-355
Griffith,R,SReddingandJVanReenen(2001)“Measuringthecosteffectivenessofan
R&DtaxcreditfortheUK”FiscalStudiesVolume22,Number3,375-399,2001
Blundell,R.,R.GriffithandJ.VanReenen(1999)‘Marketshare,marketvalueand
innovationinapanelofBritishmanufacturingfirms’,ReviewofEconomicStudies,66,
529-554,July1999
Griffith,R.(1999)‘UsingtheARDestablishmentleveldatatolookatforeignownership
andproductivityintheUK’,EconomicJournal,109,F416-F442,June1999
Devereux,M.P.andR.Griffith(1998)‘Taxesandthelocationofproduction:evidence
fromapanelofUSmultinationals’,JournalofPublicEconomics,68,335-367,June
1998
Griffith(1996)“ANoteontheTaxationofCapitalIncomeintheCzechRepublicand
Poland”FiscalStudies,vol.17,no.3,pp.91-103,August1996
Blundell,R.,R.GriffithandFWindmeijer(1995)‘DynamicsandCorrelatedResponsesin
LongitudinalDataModels’LectureNotesinStatistics104,35-42,Springer-Verlag:
NewYork,July1995
GriffithR,DSandlerandJVanReenen(1995)“TaxIncentivesforR&D”FiscalStudies,
vol.16,no.2,21-44,May1995
Blundell,R.,R.GriffithandJ.VanReenen(1995)‘Dynamiccountdatamodelsof
technologicalinnovation’,EconomicJournal,105,333-344,March1995
Griffith,RandHFreeman(1993)“SurplusACT-ASolutioninSight?”FiscalStudies,Vol.
14No.4,58-73,November1993
Otherpublications
RachelGriffith,MichalKrolandKateSmith,October2015,“StoreBrandsandtheRoleof
Advertising”CEPRDiscussionPaperDP10877
videointerview"Eatinglessbutputtingonweight",August2015
http://www.ifs.org.uk/publications/8038
RachelGriffithandHelenMiller,June2015"Weakproductivitygrowthisnotconfinedto
afewsectorsoftheeconomy",IFSObservation,
http://www.ifs.org.uk/publications/7821
RachelGriffith,LarsNesheimandMartinO'Connell,June2015,"Incomeeffectsandhte
welfareconsequnecesoftaxindifferenitatedproductoligopoly'cemmapWorking
PaperCWP23/15
RachelGriffith,SokbaeLeeandBasStraathof,September2014,"Recombinant
innovationandtheboundariesofthefirm"cemmapWorkingPaperCSP40/14
PierreDubois,RachelGriffithandMartinO’Connell,April2014,“TheEffectsofBanning
AdvertisingonDemand,SupplyandWelfare:StructuralEstimationonaJunkFood
Market”CEPRDiscussionPaperNo.9942
LauraAbramovsky,RachelGriffithandHelenMiller,March2012,"Offshoringofhighskilledworkersisnotazero-sumgame",Vox,VoxEU
LauraAbramovsky,RachelGriffithandHelenMiller,March2012,"Offshoringhighskilledjobs:EUmultinationalsanddomesticemploymentofinventors",CEPRDiscussion
Paper8837
RachelGriffithandHelenMiller,September2011"InnovationinChina:theriseof
Chineseinventorsintheproductionofknowledge"IFSWorkingPapersW11/15
RachelGriffith,LarsNesheimandMartinO'Connell,December2010,"Sintaxesin
differentiatedproductoligopoly:anapplicationtothebutterandmargarinemarket",
cemmapWorkingPapers,CWP37/10
RachelGriffith,HelenMillerandMartinO'Connell,November2010,"Corporatetaxes
andintellectualproperty:simulatingtheeffectofPatentBoxes",IFSBriefingNotes,
BN112
RachelGriffithandAndrewLeicester,September2010,"Theimpactofintroducinga
minimumpriceonalcoholinBritain",IFSBriefingNotes,BN109
Abramovsky,Laura,RachelGriffith,GarethMacartneyandHelenMiller,November
2008,"ThelocationofinnovativeactivityinEurope",IFSWorkingPapers,W08/10
Griffith,Rachel,RupertHarrisonandHelenSimpson(2006)“Thelinkbetweenproduct
marketreform,innovationandEUmacroeconomicperformance”EuropeanEconomy,
Number243,February2006
Griffith,RachelandRupertHarrison(2005)Backgroundfactsandcommentson
“Supportinggrowthininnovation:enhancingtheR&Dtaxcredit”,November2005,IFS
BriefingNotes,BN68.
Abramovsky,L,RGriffithandMSako(2004)“OffshoringofBusinessServicesandits
ImpactontheUKEconomy,AIMBriefingNote,November2004
Griffith,RandRHarrison(2004)“Thelinkbetweenproductmarketreformandmacroeconomicperformance”EuropeanEconomyEconomicPapers209/2004
Griffith,RandAKlemm(2004)“Whathasbeenthetaxcompetitionexperienceofthe
last20years?”TaxNotesInternational
Griffith,R,RHarrison,JHaskelandMSako(2004)“TurningtheTide”People
Management12February2004
Griffith,R,R.Harrison,J.HaskelandM.Sako(2004)“TheUKproductivitygapandthe
performanceoftheservicesectors”,AIMBriefingNote2004
Griffith,RandRHarrison(2003)“UnderstandingtheUK’spoortechnological
performance”IFSBriefingNote37
Griffith,R“TaxCompetition:DoCountriesCompeteoverCapital?”NorwegianMinistry
ofForeignAffairsReportNo.4
Griffith,R,A.KlemmandH.Simpson“Responsetoconsultativenote‘Designsfor
Innovation’”,IFSBriefingNoteNo.23
Griffith,R“HowimportantisbusinessR&Dforeconomicgrowthandshouldthe
governmentsubsidiseit?”,HMTreasuryWorkingPaperandIFSBriefingNoteNo.12
Bloom,N,RGriffithandAKlemm“IssuesinthedesignandimplementationofanR&D
taxcreditforUKfirms”,IFSBriefingNoteNo.15
Griffith,RandH.Simpson(1998)“Whatroleshouldthegovernmentplayinpromoting
productivity?”IFSCommentaryC73,November1998
Chennells,LandRGriffith(1997)TaxingProfitsinaChangingWorld,London:Institute
forFiscalStudies,September1997
Chennells, L and R Griffith (1996) “The Impact of Tax on the Cost of Investment in
Tangible and Intangible Assets”, Study on Tax, Accounting Rules and Intangible
Investment, Report to the European Commission Directorate General III, conducted
jointlywithErnst&Young,May1996
Griffith, R and J Van Reenen (1995) “Promoting R&D through tax incentives: An
assessmentofthearguments”ScienceinParliamentVol52No.1January/February1995
Griffith, R (1993) “Innovation and Market Structure” The Economic Review, Vol. 11,
No.2,November1993,38-40.
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