This file is part of IDEAS, which uses RePEc data


[ Papers | Articles | Software | Books | Chapters | Authors | Institutions | JEL Classification | NEP reports | Search | New papers by email | Author registration | Rankings | Volunteers | FAQ | Blog | Help! ]

R&D and Economic Growth

Author info | Abstract | Publisher info | Download info | Related research | Statistics
Author Info
Stokey, Nancy L

Additional information is available for the following registered author(s):

Abstract

The aggregate rate of R&D in a competitive economy is compared with the optimal rate. The optimal rate of R&D is shown to be the same for all preferences in a broad family, while the competitive rate is sensitive to the form of substitutability among products and so can vary dramatically within a family. The second-best level of R&D is shown to be also common within a family and equal to the optimal rate. Numerical examples suggest that diminishing returns in the innovation technology is the most important potential source for excessive R&D in a competitive economy. Copyright 1995 by The Review of Economic Studies Limited.

Download Info
To download:

If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://links.jstor.org/sici?sici=0034-6527%28199507%2962%3A3%3C469%3ARAEG%3E2.0.CO%3B2-S&origin=bc
File Format: application/pdf
File Function: full text
Download Restriction: Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Publisher Info
Article provided by Blackwell Publishing in its journal Review of Economic Studies.

Volume (Year): 62 (1995)
Issue (Month): 3 (July)
Pages: 469-89
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:bla:restud:v:62:y:1995:i:3:p:469-89

Contact details of provider:
Web page: http://www.blackwellpublishing.com/journal.asp?ref=0034-6527

Order Information:
Web: http://www.blackwellpublishing.com/subs.asp?ref=0034-6527

For technical questions regarding this item, or to correct its listing, contact: (Christopher F. Baum).

Related research
Keywords:

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Comin, D., 2002. "R&D? A Small Contribution to Productivity Growth," Working Papers 02-01, C.V. Starr Center for Applied Economics, New York University. [Downloadable!]
    Other versions:
  2. Ted O'Donoghue, 1997. "A Patentability Requirement For Sequential Innovation," Discussion Papers 1185, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
  3. Orlando Gomes, 2004. "A Second-Order Approximation to Technology Choices," GE, Growth, Math methods 0409007, EconWPA. [Downloadable!]
  4. Charles I. Jones & John C. Williams, . "Too Much of a Good Thing? The Economics of Investment in R&D," Working Papers 96005, Stanford University, Department of Economics. [Downloadable!]
    Other versions:
  5. Charles I. Jones & John C. Williams, 1997. "Measuring the social return to R&D," Finance and Economics Discussion Series 1997-12, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
    Other versions:
  6. Segerstrom, Paul S., 1999. "Intel Economics," Working Paper Series 524, Research Institute of Industrial Economics.
    Other versions:
  7. Alberto Bucci, 2006. "Product Market Competition, R&D Effort and Economic Growth," DEGIT Conference Papers c011_037, DEGIT, Dynamics, Economic Growth, and International Trade. [Downloadable!]
    Other versions:
  8. Daron Acemoglu, 2005. "Equilibrium Bias of Technology," NBER Working Papers 11845, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  9. Daron Acemoglu & Ufuk Akcigit, 2006. "State-Dependent Intellectual Property Rights Policy," NBER Working Papers 12775, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  10. Zeira, Joseph, 2003. "Innovations, Patent Races and Endogenous Growth," CEPR Discussion Papers 3974, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
  11. David Currie & Paul Levine & Joeseph Pearlman & Michael Chui, 1996. "Phases of Imitation and Innovation in a North-South Endogenous Growth Model," Department of Economics Discussion Papers 9602, Department of Economics, University of Surrey. [Downloadable!]
    Other versions:
  12. Chu, Angus C., 2008. "Effects of Blocking Patents on R&D: A Quantitative DGE Analysis," MPRA Paper 3910, University Library of Munich, Germany. [Downloadable!]
    Other versions:
  13. Charles I. Jones, 1997. "The Upcoming Slowdown in U.S. Economic Growth," NBER Working Papers 6284, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
Statistics
Access and download statistics

Did you know? No RePEc service, like IDEAS, charges for the use or the display of bibliographic data.

This page was last updated on 2009-11-22.


This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.