R&D, Learning, and Phases of Economic Growth
AbstractThe role of learning and R&D in economic development is addressed in an endogenous growth model. When human capital is below a threshold level, the model predicts that skills are accumulated as the only growth-generating activity, whereas both innovation activities and learning drive growth above this level. Hence, an endogenous regime shift is triggered when the level of human capital reaches the threshold level because it becomes profitable to innovate. Copyright 1999 by Kluwer Academic Publishers
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Bibliographic InfoArticle provided by Springer in its journal Journal of Economic Growth.
Volume (Year): 4 (1999)
Issue (Month): 4 (December)
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Web page: http://www.springerlink.com/link.asp?id=102931
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