ENDOGENOUS GROWTH WITH TECHNOLOGICAL CHANGE: A MODEL BASED ON R&D EXPENDITURE
MÂª Jesus Freire-Seren
The aim of this paper is to empirically analyze the role that aggregate R&D-expenditures play in economic growth. We introduce a technology of innovation based on R&D-expenditures instead of labor to see how this consideration generates sustainable growth determined endogenously, even if population growth does not exist. Therefore, it also seems relevant to analyze the effects of some fiscal policies. For the empirical analysis we make use of an econometric model obtained from the decentralized equilibrium. More precisely, the specification is obtained using the freeentry condition that the competitive equilibrium states for the R&D-activity and the policy function defining the dynamic evolution of patentees' price.
In order to set up a list of libraries that you have access to,
you must first login
or sign up.
Then set up a personal list of libraries from your profile page by
clicking on your user name at the top right of any screen.