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Growth and Competition in a Model of Human Capital Accumulation and Research

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  • Bianco, Dominique

Abstract

The aim of this paper is to analyze the relationship between competition and growth in a model of human capital accumulation and research by disentangling the monopolistic mark-up in the intermediate goods sector and the returns to specialization in order to have a better measure of competition. We find that the steady-state output growth rate depends on the parameters describing preferences, human capital accumulation technology and R&D activity. We also show that the relationship between competition and growth is inverse U shaped. This result that seems to be in line this empirical results (Aghion and Gri±th (2005)) is explained by the resource allocation effect.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 10913.

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Date of creation: 06 Oct 2008
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Handle: RePEc:pra:mprapa:10913

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Keywords: Endogenous growth; Horizontal differentiation; Technological change; Imperfect competition; Human capital;

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  1. Alberto BUCCI, 2004. "An inverted-U relationship between product market competition and growth in an extended Romerian model," Departmental Working Papers, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano 2004-26, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
  2. Philippe Aghion & Nicholas Bloom & Richard Blundell & Rachel Griffith & Peter Howitt, 2002. "Competition and Innovation: An Inverted U Relationship," NBER Working Papers 9269, National Bureau of Economic Research, Inc.
  3. Alberto Bucci, 2003. "R&D, imperfect competition and growth with human capital accumulation," Departmental Working Papers, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano 2003-11, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
  4. Alberto Bucci, 2005. "Product Market Competition, R&D Effort and Economic Growth," UNIMI - Research Papers in Economics, Business, and Statistics, Universitá degli Studi di Milano unimi-1011, Universitá degli Studi di Milano.
  5. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, Elsevier, vol. 22(1), pages 3-42, July.
  6. Lloyd-Ellis, Huw & Roberts, Joanne, 2002. " Twin Engines of Growth: Skills and Technology as Equal Partners in Balanced Growth," Journal of Economic Growth, Springer, Springer, vol. 7(2), pages 87-115, June.
  7. Bianco, Dominique, 2008. "Growth and Competition in a Model of Human Capital Accumulation and Research," MPRA Paper 10913, University Library of Munich, Germany.
  8. Dixit, Avinash K & Stiglitz, Joseph E, 1977. "Monopolistic Competition and Optimum Product Diversity," American Economic Review, American Economic Association, American Economic Association, vol. 67(3), pages 297-308, June.
  9. Bianco, Dominique, 2007. "An inverted-U relationship between product market competition and Growth in an extended romerian model : A comment," MPRA Paper 4492, University Library of Munich, Germany.
  10. de Groot, Henri L. F. & Nahuis, Richard, 1998. "Taste for diversity and the optimality of economic growth," Economics Letters, Elsevier, Elsevier, vol. 58(3), pages 291-295, March.
  11. Benassy, Jean-Pascal, 1998. "Is there always too little research in endogenous growth with expanding product variety?," European Economic Review, Elsevier, Elsevier, vol. 42(1), pages 61-69, January.
  12. Paul Segerstrom & Elias Dinopoulos, 1999. "A Schumpeterian Model of Protection and Relative Wages," American Economic Review, American Economic Association, American Economic Association, vol. 89(3), pages 450-472, June.
  13. Paul Romer, 1989. "Endogenous Technological Change," NBER Working Papers 3210, National Bureau of Economic Research, Inc.
  14. Dominique Bianco, 2006. "Competition and growth in endogenous growth model with expanding product variety without scale effects," Brussels Economic Review, ULB -- Universite Libre de Bruxelles, ULB -- Universite Libre de Bruxelles, vol. 49(3), pages 191-202.
  15. Elias Dinopoulos & Peter Thompson, 1999. "Scale effects in Schumpeterian models of economic growth," Journal of Evolutionary Economics, Springer, Springer, vol. 9(2), pages 157-185.
  16. Ziesemer, Thomas, 1991. "Human capital, market structure and taxation in a growth model with endogenous technical progress," Journal of Macroeconomics, Elsevier, Elsevier, vol. 13(1), pages 47-68.
  17. Arnold, Lutz G., 1998. "Growth, Welfare, and Trade in an Integrated Model of Human-Capital Accumulation and Research," Journal of Macroeconomics, Elsevier, Elsevier, vol. 20(1), pages 81-105, January.
  18. Aghion, Philippe & Howitt, Peter, 2005. "Growth with Quality-Improving Innovations: An Integrated Framework," Handbook of Economic Growth, Elsevier, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 2, pages 67-110 Elsevier.
  19. Eicher, Theo S, 1996. "Interaction between Endogenous Human Capital and Technological Change," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 63(1), pages 127-44, January.
  20. Blackburn, Keith & Hung, Victor T. Y. & Pozzolo, Alberto F., 2000. "Research, Development and Human Capital Accumulation," Journal of Macroeconomics, Elsevier, Elsevier, vol. 22(2), pages 189-206, April.
  21. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
  22. Charles I. Jones, 2004. "Growth and Ideas," NBER Working Papers 10767, National Bureau of Economic Research, Inc.
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Cited by:
  1. Bianco, Dominique, 2008. "Growth and Competition in a Model of Human Capital Accumulation and Research," MPRA Paper 10913, University Library of Munich, Germany.
  2. Dominique Bianco, 2012. "R&D, Competition and Growth with Human Capital Accumulation Revisited," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), Swiss Society of Economics and Statistics (SSES), vol. 148(IV), pages 477-495, December.

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