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A Contribution to the Empirics of Endogenous Growth

Author

Listed:
  • Elias Dinopoulos

    (University of Florida)

  • Peter Thompson

    (University of Houston)

Abstract

We modify Romer's [1990] model of endogenous technological change, incorporating population growth, capital depreciation and diminishing returns to R&D, and removing scale effects. The steady-state of the model is characterized by a system of non-linear simultaneous equations in which income per capita depends on the savings rates, the rate of technological change and population growth in much the same manner as the Solow model, but in which the rate of technological change is also determined by the endogenous variables. Using international cross-sectional data, we obtain a precise estimate of returns to scale in the knowledge creation function which enables us to reject the neoclassical model against our alternative.

Suggested Citation

  • Elias Dinopoulos & Peter Thompson, 1996. "A Contribution to the Empirics of Endogenous Growth," Eastern Economic Journal, Eastern Economic Association, vol. 22(4), pages 389-400, Fall.
  • Handle: RePEc:eej:eeconj:v:22:y:1996:i:4:p:389-400
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    File URL: http://web.holycross.edu/RePEc/eej/Archive/Volume22/V22N4P389_400.pdf
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    References listed on IDEAS

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    1. repec:hoo:wpaper:e-92-3 is not listed on IDEAS
    2. Matsuyama, Kiminori, 1992. "Agricultural productivity, comparative advantage, and economic growth," Journal of Economic Theory, Elsevier, vol. 58(2), pages 317-334, December.
    3. N. Gregory Mankiw & David Romer & David N. Weil, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 107(2), pages 407-437.
    4. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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    Citations

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    Cited by:

    1. Rossitsa Rangelova, 1999. "Endogenous Growth Theory: Rise and Developments," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 3-27.
    2. Paul Segerstrom & Elias Dinopoulos, 1999. "A Schumpeterian Model of Protection and Relative Wages," American Economic Review, American Economic Association, vol. 89(3), pages 450-472, June.
    3. A. Minniti & F. Venturini, 2014. "R&D Policy and Schumpeterian Growth: Theory and Evidence," Working Papers wp945, Dipartimento Scienze Economiche, Universita' di Bologna.
    4. Rossitsa Rangelova, 1999. "Economic Growth in Transition CEECs: Implications for and of Modern Growth Theory," ERI-BAS Chapters,in: Mitko Dimitrov & Wladimir Andreff & Laszlo Csaba (ed.), Economies in Transition and the Variety of Capitalisms. Features, Changes, Convergence, edition 1, chapter 12, pages 102-126 Bulgarian Academy of Sciences - Economic Research Institute.
    5. Petsas, Iordanis, 2009. "General Purpose Technologies and their Implications for International Trade," MPRA Paper 14446, University Library of Munich, Germany.
    6. Petsas Iordanis, 2015. "General Purpose Technologies and their Implications for International Trade," International Journal of Management and Economics, De Gruyter Open, vol. 47(1), pages 7-35, September.
    7. Paul A. de Hek, 2005. "Uncertain Technological Change under Capital Mobility," Tinbergen Institute Discussion Papers 05-033/2, Tinbergen Institute.
    8. Sener, Fuat, 2001. "Schumpeterian unemployment, trade and wages," Journal of International Economics, Elsevier, vol. 54(1), pages 119-148, June.
    9. Dinopoulos, Elias & Thompson, Peter, 2000. "Endogenous growth in a cross-section of countries," Journal of International Economics, Elsevier, vol. 51(2), pages 335-362, August.
    10. Paul A. de Hek, 2002. "Endogenous Technological Change under Uncertainty," Tinbergen Institute Discussion Papers 02-047/2, Tinbergen Institute, revised 08 Nov 2002.
    11. Perez-Sebastian, Fidel, 2000. "Transitional dynamics in an R&D-based growth model with imitation: Comparing its predictions to the data," Journal of Monetary Economics, Elsevier, vol. 45(2), pages 437-461, April.
    12. Petsas, Iordanis, 2008. "Sustained Comparative Advantage in a Model of Schumpeterian Growth without Scale Effects," MPRA Paper 14300, University Library of Munich, Germany, revised 30 Sep 2008.
    13. Alberto Bucci, 2009. "Population, Innovation, Competition and Growth with and without Human Capital Investment," UNIMI - Research Papers in Economics, Business, and Statistics unimi-1095, Universitá degli Studi di Milano.
    14. Wolf-Heimo Grieben, 2005. "Schumpeterian growth and the political economy of employment protection," Journal of Economics, Springer, vol. 10(1), pages 77-118, December.
    15. Dinopoulos, Elias & Segerstrom, Paul, 1999. "The dynamic effects of contingent tariffs," Journal of International Economics, Elsevier, vol. 47(1), pages 191-222, February.
    16. Amavilah, Voxi Heinrich, 2014. "Knowledge = Technology + Human Capital and the Lucas and Romer Production Functions," MPRA Paper 58847, University Library of Munich, Germany.
    17. Sener, Fuat, 2006. "Labor market rigidities and R&D-based growth in the global economy," Journal of Economic Dynamics and Control, Elsevier, vol. 30(5), pages 769-805, May.
    18. Amavilah, Voxi Heinrich, 2008. "Domestic resources, governance, global links, and the economic performance of Sub-Saharan Africa," MPRA Paper 11193, University Library of Munich, Germany.
    19. Amavilah, Voxi Heinrich, 2014. "Human Knowledge and a Commonsensical Measure of Human Capital: A Proposal," MPRA Paper 57670, University Library of Munich, Germany.

    More about this item

    Keywords

    Growth; Population; Technological Change;

    JEL classification:

    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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