A nonscale growth model with R&D and human capital accumulation
Ribeiro, Maria-João (2000) A nonscale growth model with R&D and human capital accumulation. Working Paper. Coventry: University of Warwick, Department of Economics. Warwick economic research papers (No.574).
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This paper aims to contribute to the new growth theory with a model in which the engine of growth is human capital growth. Building on Romer's  model, two new functions are introduced: (1) a specification for the production of new designs that assumes no externalities and no inventions before time zero; and (2) A specification for the accumulation of human capital technically similar to that in Lucas . As opposed to Romer's model, the scale-effects prediction is eliminated because technological growth does not depend on the number of researchers, but instead on the rate of growth of human capital. Moreover, the model introduced carries a new prediction: Growth depends positively on the ratio of final-good workers to researchers.
|Item Type:||Working or Discussion Paper (Working Paper)|
|Subjects:||H Social Sciences > HF Commerce|
|Divisions:||Faculty of Social Sciences > Economics|
|Library of Congress Subject Headings (LCSH):||Research and development projects, Endogenous growth (Economics), Human capital, Scaling (Social sciences)|
|Series Name:||Warwick economic research papers|
|Publisher:||University of Warwick, Department of Economics|
|Place of Publication:||Coventry|
|Official Date:||November 2000|
|Number of Pages:||18|
|Status:||Not Peer Reviewed|
|Access rights to Published version:||Open Access|
|Funder:||Fundação para a Ciência e a Tecnologia (FCT), Universidade do Minho (UdM)|
Aghion, P. and Howitt, P. 1998. Endogenous Growth Theory. Cambridge, Mass: MIT Press.
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