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Semi-Endogenous Versus Schumpeterian Growth Models: Testing The Knowledge Production Function Using International Data

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  • Jakob B. Madsen
  • EPRU
  • FRU

Abstract

Using various indicators of innovative activity and product variety in the OECD countries over the past century, this paper tests whether first- and second-generation models of economic growth are consistent with the data over time and across countries. The estimation results give evidence in favour of Schumpeterian models while the semi-endogenous growth theories are not consistent with the data.

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File URL: http://www.buseco.monash.edu.au/eco/research/papers/2007/2607semi-endogenousmadseneprufru.pdf
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Bibliographic Info

Paper provided by Monash University, Department of Economics in its series Monash Economics Working Papers with number 26-07.

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Length: 45 pages
Date of creation: 2007
Date of revision:
Handle: RePEc:mos:moswps:2007-26

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Web page: http://www.buseco.monash.edu.au/eco/
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Keywords: Schumpeterian growth theory; semi-endogenous growth theory;

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References

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  1. Madsen et al.: Four centuries of British economic growth: The roles of technology and population
    by David Stern in Stochastic Trend on 2010-11-17 05:38:00
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