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R&D Spillovers in an Endogenous Growth Model with Physical Capital, Human Capital and Varieties

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  • Sequeira, Tiago Neves

Abstract

There is a family of models with Physical, Human capital and R&D for which convergence properties have been discussed (Arnold, 2000a; G´omez, 2005). However, spillovers in R&D have been ignored in this context. We introduce spillovers in this model and derive its steady-state and stability properties. This new feature implies that the model is characterized by a system of four differential equations. A unique Balanced Growth Path along with a two dimensional stable manifold are obtained under simple and reasonable conditions. Transition is oscillatory toward the steady-state for plausible values of parameters.

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Paper provided by Universidade Nova de Lisboa, Faculdade de Economia in its series FEUNL Working Paper Series with number wp532.

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Length: 21 pages
Date of creation: 2008
Date of revision:
Handle: RePEc:unl:unlfep:wp532

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  1. Fiaschi, Davide & Lavezzi, Andrea Mario, 2007. "Nonlinear economic growth: Some theory and cross-country evidence," Journal of Development Economics, Elsevier, Elsevier, vol. 84(1), pages 271-290, September.
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  9. Fiaschi, Davide & Lavezzi, Andrea Mario, 2003. " Distribution Dynamics and Nonlinear Growth," Journal of Economic Growth, Springer, Springer, vol. 8(4), pages 379-401, December.
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  13. Arnold, Lutz G., 2005. "The Jones R&D Growth Model: Comment on Stability," University of Regensburg Working Papers in Business, Economics and Management Information Systems 405, University of Regensburg, Department of Economics.
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Cited by:
  1. Michael Funke & Xi Chen, 2012. "The dynamics of catch-up and skill and technology upgrading in China," Quantitative Macroeconomics Working Papers, Hamburg University, Department of Economics 21206, Hamburg University, Department of Economics.
  2. Agenor, Pierre-Richard & Dinh, Hinh T., 2013. "Public policy and industrial transformation in the process of development," Policy Research Working Paper Series 6405, The World Bank.

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