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Are there diminishing returns to R&D?

  • Madsen, Jakob B.

Semi-endogenous models and, to some extent, also Schumpeterian models are based on the assumption of diminishing returns to R&D. This paper shows that the null hypothesis of constant returns to R&D cannot be rejected for the OECD countries.

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File URL: http://www.sciencedirect.com/science/article/B6V84-4MG1NS1-1/2/b8e3c3489a8d777eebcb470c3aaf1356
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Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 95 (2007)
Issue (Month): 2 (May)
Pages: 161-166

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Handle: RePEc:eee:ecolet:v:95:y:2007:i:2:p:161-166
Contact details of provider: Web page: http://www.elsevier.com/locate/ecolet

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  1. Dinopoulos, Elias & Thompson, Peter, 1998. " Schumpeterian Growth without Scale Effects," Journal of Economic Growth, Springer, vol. 3(4), pages 313-35, December.
  2. Marios Zachariadis, 2004. "R&D-induced Growth in the OECD?," Review of Development Economics, Wiley Blackwell, vol. 8(3), pages 423-439, 08.
  3. Zvi Griliches, 1990. "Patent Statistics as Economic Indicators: A Survey," NBER Working Papers 3301, National Bureau of Economic Research, Inc.
  4. Peretto, Pietro F, 1998. " Technological Change and Population Growth," Journal of Economic Growth, Springer, vol. 3(4), pages 283-311, December.
  5. repec:fth:harver:1473 is not listed on IDEAS
  6. Segerstrom, Paul S, 1998. "Endogenous Growth without Scale Effects," American Economic Review, American Economic Association, vol. 88(5), pages 1290-1310, December.
  7. Samuel S. Kortum, 1997. "Research, Patenting, and Technological Change," Econometrica, Econometric Society, vol. 65(6), pages 1389-1420, November.
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