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R&D, Imperfect Competition and Growth with Human Capital Accumulation

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Alberto Bucci

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Abstract

This paper studies the long-run consequences of imperfect competition on growth and the sectoral distribution of skills within an R&D-based growth model with human capital accumulation. We find that steady-state growth is driven only by incentives to accumulate skills. In the model imperfect competition has a positive growth effect, while influencing the allocation of human capital to the different economic activities employing this factor input. Contrary to general wisdom, the share of resources invested in R&D turns out not to be monotonically increasing in the product market power and its correlation with the equilibrium output growth rate is not unambiguous. Copyright (c) Scottish Economic Society 2003.

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Article provided by Scottish Economic Society in its journal Scottish Journal of Political Economy.

Volume (Year): 50 (2003)
Issue (Month): 4 (09)
Pages: 417-439
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Handle: RePEc:bla:scotjp:v:50:y:2003:i:4:p:417-439

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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.:
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  3. Alberto BUCCI, 2000. "On Scale Effects, Market Power and Growth when Human and Technological Capital are Complements," Working Papers 134, Universita' Politecnica delle Marche (I), Dipartimento di Economia.
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  5. Aghion, Ph. & Dewatripont, M. & Rey, P., 1997. "Corporate governance, competition policy and industrial policy," European Economic Review, Elsevier, vol. 41(3-5), pages 797-805, April. [Downloadable!] (restricted)
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  7. Sanghoon Ahn, 2002. "Competition, Innovation and Productivity Growth: A Review of Theory and Evidence," OECD Economics Department Working Papers 317, OECD, Economics Department. [Downloadable!]
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  10. Jones, Charles I, 1995. "R&D-Based Models of Economic Growth," Journal of Political Economy, University of Chicago Press, vol. 103(4), pages 759-84, August. [Downloadable!] (restricted)
  11. Alberto Bucci, 2003. "Market Power and Aggregate Economic Growth in Models with Endogenous Technological Change," Giornale degli Economisti, GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, vol. 62(2), pages 241-291, October. [Downloadable!]
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  25. Redding, Stephen, 1996. "The Low-Skill, Low-Quality Trap: Strategic Complementarities between Human Capital and R&D," Economic Journal, Royal Economic Society, vol. 106(435), pages 458-70, March. [Downloadable!] (restricted)
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  31. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages S71-102, October. [Downloadable!] (restricted)
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  32. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July. [Downloadable!] (restricted)
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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. Bianco, Dominique, 2007. "R&D, Competition and Growth with Human Capital Accumulation : A Comment," MPRA Paper 5243, University Library of Munich, Germany. [Downloadable!]
  2. Giovanna Nicolini & Anna Lo Presti, 2003. "Combined estimators for complex sampling," Departemental Working Papers 2003-12, Department of Economics University of Milan Italy. [Downloadable!]
  3. Marcello SPANO', 2003. "Stock market expectations, effects on prices and aggregate income," Departemental Working Papers 2003-25, Department of Economics University of Milan Italy. [Downloadable!]
  4. Massimo FLORIO & Silvia VIGNETTI, 2003. "Cost-benefit analysis of infrastructure projects in an enlarged European Union: an incentive-oriented approach," Departemental Working Papers 2003-13, Department of Economics University of Milan Italy. [Downloadable!]
    Other versions:
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