English, Article, Journal or magazine article edition: Obsolescence and Modernization in the Growth Process Raouf BOUCEKKINE; Fernando DEL RIO; Omar LICANDRO

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Bookmark: http://trove.nla.gov.au/version/178519
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Obsolescence and Modernization in the Growth Process
Author
  • Raouf BOUCEKKINE
  • Fernando DEL RIO
  • Omar LICANDRO
Physical Description
  • preprint
Notes
  • RePEc:eui:euiwps:eco2001/​18
  • In this paper, an endogenous growth model is built up incorporating Schumpeterian growth and embodied technological progress. Under embodiment, long run growth is affected by the following effects : (i) obsolescence costs add to the user cost of capital, reducing the research effort; and (ii) the modernization of capital through investment raises the incentives to undertake R&​D activities. Applied to the understanding of the growth enhancing role of both capital and R&​D subsidies, we conclude that the positive effect of modernization generally more than compensate the negative effect of obsolescence
  • Shumpeterian growth; Creative destruction; Embodiment;Obsolescence; Modernization
  • RePEc:ctl:louvir:2002043
Language
  • English
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