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Innovative and absorptive capacity effects of education in a small open economy

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    Abstract

    Evidence points to relatively low supply elasticities for workers skilled for research and development (R&D), which can hamper innovation and growth. Increasing the supply of R&D skills will expand an economy's innovative capacity. A simultaneous effect of increased education, which is particularly important for small, open economies, is to raise final goods producers’ capacity to absorb cross-border knowledge spillovers. In a calibrated endogenous growth model for Norway, we find that increasing the share of highly educated workers has pronounced absorptive capacity effects that partially crowd out R&D-based innovation. Both innovative and absorptive capacity expansions contribute to higher growth and welfare.

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    File URL: http://www.ssb.no/publikasjoner/DP/pdf/dp694.pdf
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    Bibliographic Info

    Paper provided by Research Department of Statistics Norway in its series Discussion Papers with number 694.

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    Date of creation: Jun 2012
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    Handle: RePEc:ssb:dispap:694

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    Keywords: Absorptive capacity; Computable general equilibrium model; Endogenous growth; Human capital; Innovation; Research and Development;

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