Merger Policy in R&D Intensive Industries
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http://hdl.handle.net/10045/62653
| Title: | Merger Policy in R&D Intensive Industries |
|---|---|
| Authors: | Pastor-Gosálbez, María Teresa | Fauli-Oller, Ramon |
| Research Group/s: | Microeconomía Aplicada (GIMA) |
| Center, Department or Service: | Universidad de Alicante. Departamento de Fundamentos del Análisis Económico |
| Keywords: | Mergers | R&D |
| Knowledge Area: | Fundamentos del Análisis Económico |
| Issue Date: | 2016 |
| Publisher: | Universidad de Zaragoza. Departamento de Estructura Económica y Economía Pública |
| Citation: | Revista de Economía Aplicada. 2016, 24(72): 47-56 |
| Abstract: | We analyze merger policy in an industry where firms participate in a non-tournament R&D competition. We conclude that merger policy should be, in general, less restrictive in high technology markets (pharmaceuticals and telecoms), because mergers reduce the wasteful duplication of R&D expenditures. However, merger policy should become more strict in (very) asymmetric market structures. In this case, competition provides incentives for R&D, but, at the same time, duplication is avoided. |
| Sponsor: | Fauli-Oller gratefully acknowledges financial support from the Spanish Ministerio de Economía y Competitividad and FEDER funds ECO2015-65820-P (MINECO/FEDER), from Generalitat Valenciana grant PROMETEO/2013/037 and the IVIE. Part of this research was written when Fauli-Oller was visiting the Institut d’Anàlisi Econòmica, CSIC. |
| URI: | http://hdl.handle.net/10045/62653 |
| ISSN: | 1133-455X |
| Language: | eng |
| Type: | info:eu-repo/semantics/article |
| Rights: | © Revista de Economía Aplicada |
| Peer Review: | si |
| Publisher version: | http://www.revecap.com/revista/ |
| Appears in Collections: | INV - GIMA - Artículos de Revistas |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
 2016_Pastor_Fauli_RevEconApl.pdf | 207,78 kB | Adobe PDF | Open Preview | |
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