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A Nonscale Growth Model with R&D and Human Capital Accumulation

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  • Ribeiro, Maria-Joao

Abstract

This paper aims to contribute to the new growth theory with a model in which the engine of growth is human capital growth. Building on Romer’s [1990] model, two new functions are introduced: (1) A speci…cation for the production of new designs that assumes no externalities and no inventions before time zero; and (2) A speci…cation for the accumulation of human capital technically similar to that in Lucas [1988]. As opposed to Romer’s model, the scale-e¤ects prediction is eliminated because technological growth does not depend on the number of researchers, but instead on the rate of growth of human capital. Moreover, the model introduced carries a new prediction: Growth depends positively on the ratio of …nal-good workers to researchers.

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  • Ribeiro, Maria-Joao, 2000. "A Nonscale Growth Model with R&D and Human Capital Accumulation," Economic Research Papers 269345, University of Warwick - Department of Economics.
    • Handle: RePEc:ags:uwarer:269345
    DOI: 10.22004/ag.econ.269345
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    Cited by:

    1. Huiping Li & Harrison Campbell & Steven Fernandez, 2013. "Residential Segregation, Spatial Mismatch and Economic Growth across US Metropolitan Areas," Urban Studies, Urban Studies Journal Limited, vol. 50(13), pages 2642-2660, October.

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