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External vs. internal learning-by-doing in an R&D based growth model

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  • Andreas Hornstein
  • Dan Peled

Abstract

In an economy where growth is determined by the interaction of R&D and learning-by-doing (LBD), changes of factors that stimulate either one of these activities affect growth differently than in an economy where growth is determined by either R&D or LBD alone. In particular, when firms anticipate that R&D for new types of goods threatens the future efficiency gains which they derive from LBD, a more efficient learning process or a larger workforce might reduce rather than increase the growth rate on a balanced growth path.

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Bibliographic Info

Paper provided by Federal Reserve Bank of Richmond in its series Working Paper with number 98-01.

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Date of creation: 1998
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Handle: RePEc:fip:fedrwp:98-01

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Cited by:
  1. Andrea Mario Lavezzi & Davide Fiaschi, 2004. "Nonlinear Growth and the Productivity Slowdown," Computing in Economics and Finance 2004 162, Society for Computational Economics.
  2. Yoshiaki Sugimoto, 2005. "Inequality, Growth, and Overtaking," Development and Comp Systems 0508012, EconWPA.
  3. Lagerlöf, Nils-Petter & Tangerås, Thomas, 2005. "Human Capital, Rent Seeking, and a Transition from Stagnation to Growth," Working Paper Series 656, Research Institute of Industrial Economics.
  4. Andreas Hornstein & Per Krusell, 2003. "Implications of the capital-embodiment revolution for directed R&D and wage inequality," Economic Quarterly, Federal Reserve Bank of Richmond, issue Fall, pages 25-50.
  5. Theo Eicher, 2002. "Search in Research: An Evolutionary Approach to Technical Change and Growth," Computing in Economics and Finance 2002 197, Society for Computational Economics.
  6. Habibullah, M.S. & Dayang-Afizzah, A.M., 2008. "Bordering neighbours: Testing for border effect on Malaysia's northern states and Southern Thailand," MPRA Paper 12103, University Library of Munich, Germany.
  7. Yoshiaki Sugimoto, 2003. "Inequality, Growth, and Overtaking," Data 0304001, EconWPA.

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