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Joaquín Artés Caselles 
I present new econometric evidence on the relation between market structure and R&D using data of Spanish firms. I adopt a different approach from previous studies by distinguishing between long-run and short-run decisions of firms regarding R&D. I assume that the long-run or strategic decision is whether to conduct R&D or not and the short-run choice is how much to invest once the firm decides to be innovative. I argue that market structure affects long-run R&D decisions but does not affect short-run ones. A Heckman-type selection model is used to test such a relation. The results are robust to several specifications and measures of monopoly power.
