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

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  • Dominique Bianco

Abstract

In this paper, we have presented a generalization of Bucci's (2003) model in which have disentangled the monopolistic mark-up in the intermediate goods sector, the intermediate goods share in the final output and the returns to specialization in order to have a better measurement of competition. Indeed, unlike Bucci (2003), in our model, the measure of competition is completely independent of the intermediate goods share in the final output and the returns to specialization. Our main finding is that, unlike Bucci (2003), we show that the competition does not play any role in growth. This result is explained by the complementarity of innovation and human capital assumed in the research production. Moreover, we have shown that an increase in competition raises the level of production per capita, increasing consumer's welfare.

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Bibliographic Info

Article provided by Swiss Society of Economics and Statistics (SSES) in its journal Swiss Journal of Economics and Statistics.

Volume (Year): 148 (2012)
Issue (Month): IV (December)
Pages: 477-495

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Handle: RePEc:ses:arsjes:2012-iv-1

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Related research

Keywords: Endogenous growth; horizontal differentiation; technological change; imperfect competition; human capital;

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  1. Blackburn, Keith & Hung, Victor T. Y. & Pozzolo, Alberto F., 2000. "Research, Development and Human Capital Accumulation," Journal of Macroeconomics, Elsevier, vol. 22(2), pages 189-206, April.
  2. Dominique Bianco, 2009. "Growth And Competition In A Model Of Human Capital Accumulation And Research," Journal of Applied Economic Sciences, Spiru Haret University, Faculty of Financial Management and Accounting Craiova, vol. 4(3(9)_Fall).
  3. Alvarez-Pelaez, Maria J. & Groth, Christian, 2005. "Too little or too much R&D?," European Economic Review, Elsevier, vol. 49(2), pages 437-456, February.
  4. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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