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Learning, scale effects, and (very) long-run growth

  • Tsoukis, Christopher
  • Miller, Nigel James

We develop a tractable model of endogenous growth that emphasises learning and the relevance of assimilated knowledge (as opposed to frontier knowledge) in research. The model is able to limit the scope of (level) scale effects, without degenerating into a model of "semi-endogenous" growth. We reassert the long-run potency of government policies that promote thrift, training, R&D and enhancement of productivity. We also show the relevance of learning for growth in the very long run, and its potential in accounting for the transition from stagnation to the secular growth of the industrial era.

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File URL: http://www.sciencedirect.com/science/article/pii/S0264-9993(07)00094-6
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Article provided by Elsevier in its journal Economic Modelling.

Volume (Year): 25 (2008)
Issue (Month): 3 (May)
Pages: 446-462

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Handle: RePEc:eee:ecmode:v:25:y:2008:i:3:p:446-462
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/30411

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  1. Galor, Oded, 2004. "From Stagnation to Growth: Unified Growth Theory," CEPR Discussion Papers 4581, C.E.P.R. Discussion Papers.
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  11. Paul M Romer, 1999. "Increasing Returns and Long-Run Growth," Levine's Working Paper Archive 2232, David K. Levine.
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  16. David K. Backus & Patrick J. Kehoe & Timothy J. Kehoe, 1992. "In search of scale effects in trade and growth," Staff Report 152, Federal Reserve Bank of Minneapolis.
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