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Research policy and endogenous growth

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  • María Morales

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Abstract

This paper studies the effects of different types of research policy on economic growth. We find that while subsidies to private research, public funding of private projects, and basic research performed at public institutions have unambiguously positive effects on growth, performing applied research at public institutions could have negative growth effects. This is due to the large crowding out of private research caused by public R&D when it competes with private firms in the “patent race”. Copyright Springer-Verlag Berlin/Heidelberg 2004

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Bibliographic Info

Article provided by Springer in its journal Spanish Economic Review.

Volume (Year): 6 (2004)
Issue (Month): 3 (October)
Pages: 179-209

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Handle: RePEc:spr:specre:v:6:y:2004:i:3:p:179-209

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Keywords: Research policy; basic and applied research; endogenous growth;

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References

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  1. Howitt, Peter & Aghion, Philippe, 1998. " Capital Accumulation and Innovation as Complementary Factors in Long-Run Growth," Journal of Economic Growth, Springer, vol. 3(2), pages 111-30, June.
  2. Flavio Delbono & Vincenzo Denicolo, 1991. "Regulating Innovative Activity: the Role of a Public Firm," Working Papers 117, Dipartimento Scienze Economiche, Universita' di Bologna.
  3. David, Paul A. & Hall, Bronwyn H. & Toole, Andrew A., 2000. "Is public R&D a complement or substitute for private R&D? A review of the econometric evidence," Research Policy, Elsevier, vol. 29(4-5), pages 497-529, April.
  4. David Pérez-Castrillo & Bruno Cassiman & Reinhilde Veugelers, 2000. "Endogeneizing know-how flows through the nature of R&D investments," UFAE and IAE Working Papers 464.00, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  5. David, Paul A. & Hall, Bronwyn H., 2000. "Heart of darkness: modeling public-private funding interactions inside the R&D black box," Research Policy, Elsevier, vol. 29(9), pages 1165-1183, December.
  6. 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.
  7. Aghion, P. & Howitt, P., 1989. "A Model Of Growth Through Creative Destruction," UWO Department of Economics Working Papers 8904, University of Western Ontario, Department of Economics.
  8. Alessandra Pelloni, 1997. "Public Financing of Education and Research in a Model of Endogenous Growth," LABOUR, CEIS, vol. 11(3), pages 517-539, November.
  9. Paul M Romer, 1999. "Endogenous Technological Change," Levine's Working Paper Archive 2135, David K. Levine.
  10. Peter Howitt, 1999. "Steady Endogenous Growth with Population and R & D Inputs Growing," Journal of Political Economy, University of Chicago Press, vol. 107(4), pages 715-730, August.
  11. 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.
  12. 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.
  13. Grossman, G.M. & Helpman, E., 1989. "Quality Ledders In The Theory Of Growth," Papers 148, Princeton, Woodrow Wilson School - Public and International Affairs.
  14. 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.
  15. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
  16. Aghion, Philippe & Tirole, Jean, 1994. "Opening the black box of innovation," European Economic Review, Elsevier, vol. 38(3-4), pages 701-710, April.
  17. Aghion, Philippe & Tirole, Jean, 1994. "The Management of Innovation," The Quarterly Journal of Economics, MIT Press, vol. 109(4), pages 1185-1209, November.
  18. Paul A. David, 1999. "The Political Economy of Public Science," Working Papers 99022, Stanford University, Department of Economics.
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Citations

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Cited by:
  1. Pierluigi Murro, 2007. "Public Funding for Basic Research in an Endogenous Growth Model," Rivista di Politica Economica, SIPI Spa, vol. 97(6), pages 203-228, November-.
  2. Lai, Chung-hui, 2013. "(In)determinacy, bargaining, and R&D policies in an economy with endogenous technological change," Economics Discussion Papers 2013-14, Kiel Institute for the World Economy.
  3. Suen, Richard M.H., 2013. "Research Policy and U.S. Economic Growth," MPRA Paper 49103, University Library of Munich, Germany.
  4. Hans Gersbach & Maik T. Schneider & Olivier Schneller, 2008. "On the Design of Basic-Research Policy," CER-ETH Economics working paper series 08/79, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
  5. Ufuk Akcigit & Douglas Hanley & Nicolas Serrano-Velarde, 2013. "Back to Basics: Basic Research Spillovers, Innovation Policy and Growth," NBER Working Papers 19473, National Bureau of Economic Research, Inc.
  6. Prettner, Klaus & Werner, Katharina, 2014. "Human capital, basic research, and applied research: Three dimensions of human knowledge and their differential growth effects," Center for European, Governance and Economic Development Research Discussion Papers 186, University of Goettingen, Department of Economics.
  7. Amon, Christian & Gersbach, Hans & Sorger, Gerhard, 2010. "Hierarchical Growth: Basic and Applied Research," CEPR Discussion Papers 7950, C.E.P.R. Discussion Papers.
  8. Gersbach, Hans & Schneider, Maik & Schneller, Olivier, 2010. "Optimal Mix of Applied and Basic Research, Distance to Frontier, and Openness," CEPR Discussion Papers 7795, C.E.P.R. Discussion Papers.
  9. Schetter, Ulrich & Gersbach, Hans & Schneider, Maik, 2013. "Taxation, Innovation and Entrepreneurship," Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79776, Verein für Socialpolitik / German Economic Association.

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