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Public Funding for Basic Research in an Endogenous Growth Model

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  • Pierluigi Murro

    ()
    (LUISS Guido Carli, Rome)

Abstract

The paper deals with the effects of government policy promoting basic research as an incentive to economic growth. Government is included into a Schumpeterian endogenous growth model, in which, thanks to the income proceeding from proportional taxation of monopolistic enterprises profits, it is enabled to carry out basic research activities which match applied research carried out by private enterprises. The results obtained show how it is possible that government determine a taxation level able to optimize economic growth. The effectiveness will be determined by the market. In particular, high competition levels make government policy less effective.

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File URL: http://www.rivistapoliticaeconomica.it/2007/nov-dic/pdf/murro_ing.pdf
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Bibliographic Info

Article provided by SIPI Spa in its journal Rivista di Politica Economica.

Volume (Year): 97 (2007)
Issue (Month): 6 (November-December)
Pages: 203-228

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Handle: RePEc:rpo:ripoec:v:97:y:2007:i:6:p:203-228

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  1. Maria Fuensanta Morales, 2001. "Research Policy and Endogenous Growth," UFAE and IAE Working Papers 488.01, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  2. Aghion, P. & Howitt, P., 1990. "A Model Of Growth Through Creative Destruction," DELTA Working Papers 90-12, DELTA (Ecole normale supérieure).
  3. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
  4. Paul M Romer, 1999. "Endogenous Technological Change," Levine's Working Paper Archive 2135, David K. Levine.
  5. Alessandra Pelloni, 1997. "Public Financing of Education and Research in a Model of Endogenous Growth," LABOUR, CEIS, CEIS, vol. 11(3), pages 517-539, November.
  6. Theofanis P. Mamuneas & M. Ishaq Nadiri, 1995. "Public R&D Policies and Cost Behavior of the US Manufacturing Industries," NBER Working Papers 5059, National Bureau of Economic Research, Inc.
  7. Park, Walter G., 1998. "A theoretical model of government research and growth," Journal of Economic Behavior & Organization, Elsevier, vol. 34(1), pages 69-85, January.
  8. Mamuneas, Theofanis P., 1999. "Spillovers from publicly financed R&D capital in high-tech industries," International Journal of Industrial Organization, Elsevier, vol. 17(2), pages 215-239, February.
  9. Gerhard Glomm & B. Ravikumar, 1994. "Growth-Inequality Trade-Offs in a Model with Public Sector R&D," Canadian Journal of Economics, Canadian Economics Association, vol. 27(2), pages 484-93, May.
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Cited by:
  1. Pierluigi Murro, 2010. "The determinants of innovation: What is the role of risk?," series 0032, Dipartimento di Scienze Economiche e Metodi Matematici - Università di Bari, revised Jul 2010.

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