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Rising R&D Intensity And Economic Growth

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  • ANDREAS POLLAK

Abstract

type="main" xml:id="ecin12096-abs-0001"> Over the past decades, private R&D spending in the United States and other developed countries has been growing faster than gross domestic product. At the same time, the growth rates of per-capita and aggregate output have been rather stable, possibly declining slightly. This article proposes a growth model that can account for the observed phenomenon by explicitly describing competition among technological leaders and followers in individual markets in a way that is consistent with existing studies on firms' motivation to invest in R&D. The model shows the possibility that the unsustainable trend of rising R&D intensity persists for a very long time. (JEL O3, O4, L1)

Suggested Citation

  • Andreas Pollak, 2014. "Rising R&D Intensity And Economic Growth," Economic Inquiry, Western Economic Association International, vol. 52(4), pages 1427-1445, October.
    • Handle: RePEc:bla:ecinqu:v:52:y:2014:i:4:p:1427-1445
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    File URL: http://hdl.handle.net/10.1111/ecin.2014.52.issue-4
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    Cited by:

    1. Daniel Nepelski & Giuditta De Prato, 2020. "Technological complexity and economic development," Review of Development Economics, Wiley Blackwell, vol. 24(2), pages 448-470, May.
    2. Nwakego Eyisi & Hyacinth E. Ichoku & Asma Kanwal, 2024. "Front-end Innovation and Top Income Inequality: Evidence from Emerging Markets," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(1), pages 1437-1481, March.
    3. Asma Kanwal & Nwakego Eyisi, 2023. "Income Inequality and Frontend Innovation: Evidence from Frontier Markets," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 14(1), pages 255-286, March.

    More about this item

    JEL classification:

    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
    • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance

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