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A Dynamic CGE Model: An Application of R&D- Based Endogenous Growth Model Theory

Author

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  • Diao, Xinshen
  • Elbasha, Elamin H.
  • Roe, Terry L.
  • Yeldan, A. Erinc

Abstract

An R&D based endogenous growth - applied general equilibrium model is developed from an underlying analytical model which combines Romer's capital variety with Grossman and Helpman's multi-sector open economy model. The transitional dynamics of the analytical model are derived. For numerical implementation, a time discrete empirical model, with an Armington structure, is fit to East Asian data of the social accounting matrix variety. Simulations of trade reform are performed and their static and dynamic effects compared. The transition paths of the state variables are found to have a half-life of five to six periods. A solution of the Social Planner's problem, and interventions which seek to obtain this outcome from the decentralized model are also obtained'.

Suggested Citation

  • Diao, Xinshen & Elbasha, Elamin H. & Roe, Terry L. & Yeldan, A. Erinc, 1996. "A Dynamic CGE Model: An Application of R&D- Based Endogenous Growth Model Theory," Bulletins 7461, University of Minnesota, Economic Development Center.
    • Handle: RePEc:ags:umedbu:7461
    DOI: 10.22004/ag.econ.7461
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    Cited by:

    1. Hong, Chanyoung & Yang, Heewon & Hwang, Wonsik & Lee, Jeong-Dong, 2014. "Validation of an R&D-based computable general equilibrium model," Economic Modelling, Elsevier, vol. 42(C), pages 454-463.
    2. Diao, Xinshen & Roe, Terry & Yeldan, Erinc, 1999. "Strategic policies and growth: an applied model of R&D-driven endogenous growth," Journal of Development Economics, Elsevier, vol. 60(2), pages 343-380, December.
    3. Betarelli Junior, Admir Antonio & Faria, Weslem Rodrigues & Gonçalves Montenegro, Rosa Livia & Bahia, Domitila Santos & Gonçalves, Eduardo, 2020. "Research and development, productive structure and economic effects: Assessing the role of public financing in Brazil," Economic Modelling, Elsevier, vol. 90(C), pages 235-253.
    4. Jaewon Lim & Changkeun Lee & Euijune Kim, 2015. "Contributions of human capital investment policy to regional economic growth: an interregional CGE model approach," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 55(2), pages 269-287, December.
    5. Roe, Terry & Mohtadi, Hamid, 1999. "INTERNATIONAL TRADE AND GROWTH: An Overview From The Perspective of the New Growth Theory," 1999 Annual meeting, August 8-11, Nashville, TN 271485, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    6. Dina Mandour, 2007. "Investigating The Impact Of Health and Enviromental Standards on Exports: The Case Of Egyptian Agro-Food Exports To The EU," Working Papers 707, Economic Research Forum, revised 01 Jan 2007.
    7. Zhou, Jian-Ming, 2002. "Realizing Efficient Use and Conservation of Land under Private Ownership - A Rebutment to Nobel Economics Laureate Theodore W. Schultz," Conference papers 330973, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    8. Gopinath, Munisamy & Roe, Terry L., 1996. "R&D Spillovers: Evidence from U.S. Food Processing, Farm Machinery and Agriculture," Bulletins 7504, University of Minnesota, Economic Development Center.
    9. Munisamy Gopinath & Terry Roe, 2000. "R&D Spillovers: Evidence from U.S. Food Processing, Farm Machinery and Agricultural Sectors," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 9(3), pages 223-244.

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    Keywords

    International Relations/Trade;

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