Knowledge Codification and Endogenous Growth
AbstractThe usual models of endogenous growth treat knowledge codification as a byproduct of R&D and as costless. In contrast to this, one can observe great efforts of private firms for the purposeful codification of knowledge. We incorporate costly knowledge codification in an overlapping generations framework of endogenous growth and show that the steady-state growth rate of capital being higher than that of the knowledge stock is a sufficient condition for knowledge codification. With decreasing codification costs, every overlapping generations economy will be codifying in the long run if the rate at which the costs decline is higher than or equal to the steady-state growth rate of knowledge.
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Bibliographic InfoPaper provided by CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich in its series CER-ETH Economics working paper series with number 07/65.
Length: 48 pages
Date of creation: Feb 2007
Date of revision:
Knowledge; Human Capital; Knowledge Codification; Economic Growth;
Find related papers by JEL classification:
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
- O30 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - General
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-04-09 (All new papers)
- NEP-HRM-2007-04-09 (Human Capital & Human Resource Management)
- NEP-INO-2007-04-09 (Innovation)
- NEP-KNM-2007-04-09 (Knowledge Management & Knowledge Economy)
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