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Phases of Economic Development: Do Initial Endowments Matter?

Author Info

Listed author(s):
  • Gómez Manuel A.

    ()

    (University of A Coruña)

  • Neves Sequeira Tiago

    ()

    (Universidade da Beira Interior and CEFAGE-UBI research center)

Abstract

Different industrializing experiences beginning on innovation or education could be explained not only by different structural parameters or policies but also by differences in factor endowments. In this paper, we consider an endogenous growth model with physical capital, human capital and R&D. We show that the initial endowments alone can determine the sequence of the phases of development that the economy follows; in particular, whether innovation precedes education or vice versa.

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Article provided by De Gruyter in its journal The B.E. Journal of Macroeconomics.

Volume (Year): 12 (2012)
Issue (Month): 1 (July)
Pages: 1-22

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Handle: RePEc:bpj:bejmac:v:12:y:2012:i:1:n:21
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  1. Funke, Michael & Strulik, Holger, 2000. "On endogenous growth with physical capital, human capital and product variety," European Economic Review, Elsevier, vol. 44(3), pages 491-515, March.
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  8. "Ana Balcão" "Reis" & "Tiago Neves" "Sequeira", 2007. "Human Capital and Overinvestment in R&D," Scandinavian Journal of Economics, Wiley Blackwell, vol. 109(3), pages 573-591, 09.
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  11. Gómez Manuel A, 2005. "Transitional Dynamics in an Endogenous Growth Model with Physical Capital, Human Capital and R&D," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 9(1), pages 1-20, March.
  12. Iacopetta, Maurizio, 2011. "Formal education and public knowledge," Journal of Economic Dynamics and Control, Elsevier, vol. 35(5), pages 676-693, May.
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  14. Konstantinos Angelopoulos & Jim Malley & Apostolis Philippopoulos, 2008. "Macroeconomic Effects of Public Education Expenditure," CESifo Economic Studies, CESifo, vol. 54(3), pages 471-498, September.
  15. Easterly, William & Levine, Ross, 2003. "Tropics, germs, and crops: how endowments influence economic development," Journal of Monetary Economics, Elsevier, vol. 50(1), pages 3-39, January.
  16. Arnold, Lutz G., 2000. "Endogenous growth with physical capital, human capital and product variety: A comment," European Economic Review, Elsevier, vol. 44(8), pages 1599-1605, August.
  17. Oded Galor & Omer Moav, 2006. "Das Human-Kapital: A Theory of the Demise of the Class Structure," Review of Economic Studies, Oxford University Press, vol. 73(1), pages 85-117.
  18. del Barrio-Castro, Tomas & Lopez-Bazo, Enrique & Serrano-Domingo, Guadalupe, 2002. "New evidence on international R&D spillovers, human capital and productivity in the OECD," Economics Letters, Elsevier, vol. 77(1), pages 41-45, September.
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Cited by:

  1. Sequeira, Tiago & Santos, Marcelo & Ferreira-Lopes, Alexandra, 2013. "Why Inventions Occurred in Some Countries and Not in Others?," MPRA Paper 51553, University Library of Munich, Germany.

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