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On the Policy Implications of Endogenous Technological Progress

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Author Info
Li, Chol-Won

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Abstract

One of the most well-known empirical regularities in the R&D-productivity literature is the existence of substantial under-investment in R&D. This strongly suggests that government should actively promote research activities. However, the so-called "quality-ladders" models of endogenous technological progress are inconsistent with this observation. In an extreme case, Grossman and Helpman (1991) suggest that R&D should always be taxed irrespective of the size of quality improvement. This paper attempts to reconcile these empirical and theoretical findings by showing that the normative results of Grossman and Helpman are not robust.

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Publisher Info
Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 111 (2001)
Issue (Month): 471 (May)
Pages: C164-79
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Handle: RePEc:ecj:econjl:v:111:y:2001:i:471:p:c164-79

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  11. Hitoshi Tanaka & Tatsuro Iwaisako & Koichi Futagami, 2006. "Dynamic Analysis of Innovation and International Transfer of Technology through Licensing," Discussion Papers in Economics and Business 06-06-Rev., Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP), revised Oct 2006. [Downloadable!]
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  12. Chu, Angus C., 2009. "Effects of Patent Policy on Income and Consumption Inequality in an R&D-Growth Model," MPRA Paper 10168, University Library of Munich, Germany. [Downloadable!]
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