Human Capital Accumulation in R&D-based Growth Models
This paper considers a multi-sectoral endogenous growth model, that reproduces the essental aspects of an ÔICT-based economyÕ, in which a central role is played by human capital accumulation. Indeed, households also invest in human capital through schooling, and this turns out to be the thrue engine of growth. Furthermore, this model displays no scale effect and the stimulations allow to get interesting results concerning the link between market power and growth, the presence of Ôimbalance effectsÕ and the consequences of different types of subsidies
Information technology; endogenous growth; imbalance effect
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