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• W2275755350 endingPage "380" @default.
• W2275755350 startingPage "359" @default.
• W2275755350 abstract "This paper sets up an endogenous growth model with a learning-by-doing externality in capital accumulation under both vertical separation and vertical integration structures. Some major findings emerge from our analysis. First, an increase in monopoly power has a detrimental effect on the balanced growth rate. Second, a vertical integration structure leads to a more balanced economic growth rate than a vertical separation structure. Third, the first-best subsidy rates on labor income and capital income under a vertical separation regime are higher than those under a vertical integration regime. Finally, with the additional externality from productive government spending, the government may levy positive taxes on both labor income and capital income if the extent of the productive public spending externality is sufficiently high." @default.
• W2275755350 created "2016-06-24" @default.
• W2275755350 creator A5025508189 @default.
• W2275755350 creator A5091038089 @default.
• W2275755350 date "2016-07-01" @default.
• W2275755350 modified "2023-10-18" @default.
• W2275755350 title "Vertical separation versus vertical integration in an endogenously growing economy" @default.
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• W2275755350 doi "https://doi.org/10.1016/j.iref.2016.02.005" @default.
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