Endogenous vs Semi-Endogenous Growth in A Two-R&D-Sector Model  

Oleh:

Chol-Won, Li

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Economic Journal (EBSCO) vol. 110 no. 462 (2000), page C109-C122.
Topik: GROWTH; endogenous; growth; sector model
Fulltext: 109.pdf (248.56KB)

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE28.1 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This paper contributes to the endogenous versus semi - endogenous growth debate by establishing that semi - endogenous growth is more general than endogenous growth in a two - R & D - sector growth model. It is demonstrated that endogenous growth requires two 'knife - edge' conditions of parameters. This finding : (i) is in sharp contrast to recent two - R & D - sector models that show that long- run growth is endogenous, and (ii) resurrects the policy conclusion of semi - endogenous growth that government policy is not effective in raising the underlying growth rate of an economy. The driving force of these results is knowledge spillovers between two R & D activities, which are largely neglected in existing studies.

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