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Learning, scale effects, and (very) long-run growth

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  • Tsoukis, Christopher
  • Miller, Nigel James

Abstract

We develop a tractable model of endogenous growth that emphasises learning and the relevance of assimilated knowledge (as opposed to frontier knowledge) in research. The model is able to limit the scope of (level) scale effects, without degenerating into a model of "semi-endogenous" growth. We reassert the long-run potency of government policies that promote thrift, training, R&D and enhancement of productivity. We also show the relevance of learning for growth in the very long run, and its potential in accounting for the transition from stagnation to the secular growth of the industrial era.

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Bibliographic Info

Article provided by Elsevier in its journal Economic Modelling.

Volume (Year): 25 (2008)
Issue (Month): 3 (May)
Pages: 446-462

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Handle: RePEc:eee:ecmode:v:25:y:2008:i:3:p:446-462

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Web page: http://www.elsevier.com/locate/inca/30411

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  17. van Marrewijk, Charles, 1999. "Capital Accumulation, Learning, and Endogenous Growth," Oxford Economic Papers, Oxford University Press, vol. 51(3), pages 453-75, July.
  18. Aghion, P. & Howitt, P., 1990. "A Model Of Growth Through Creative Destruction," DELTA Working Papers, DELTA (Ecole normale supérieure) 90-12, DELTA (Ecole normale supérieure).
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Cited by:
  1. Walter Buhr, 2009. "Infrastructure of the Market Economy," Volkswirtschaftliche Diskussionsbeiträge, Universität Siegen, Fakultät Wirtschaftswissenschaften, Wirtschaftsinformatik und Wirtschaftsrecht 132-09, Universität Siegen, Fakultät Wirtschaftswissenschaften, Wirtschaftsinformatik und Wirtschaftsrecht.

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