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On Scale Effects, Market Power and Growth when Human and Technological Capital are Complements

Author

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  • Alberto BUCCI

    ([n.a.])

Abstract

We build an expanding product variety endogenous growth model where both human capital and ideas are complements. One peculiarity of the economy under analysis is that in the sectors where both kinds of capital are accumulated no spillover effect does exist. Many insights arise from the model. Firstly, due to the complementarity hypothesis, multiple steady states emerge. Secondly, growth does not depend on the scale of the economy and turns out to be sensitive to the monopoly power enjoyed by local intermediate monopolists. Finally, when skilled labour and ideas are perfect complements, product market competition is unambiguously bad for growth.

Suggested Citation

  • Alberto BUCCI, 2000. "On Scale Effects, Market Power and Growth when Human and Technological Capital are Complements," Working Papers 134, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
  • Handle: RePEc:anc:wpaper:134
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    File URL: http://docs.dises.univpm.it/web/quaderni/pdf/134.pdf
    File Function: First version, 2000
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    Citations

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    Cited by:

    1. Ugo Fratesi, 2003. "Innovation Diffusion and the Evolution of Regional Disparities," ERSA conference papers ersa03p327, European Regional Science Association.
    2. Nicola MATTEUCCI & Alessandro STERLACCHINI, 2003. "ICT and Employment Growth in Italian Industries," Working Papers 193, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
    3. Alberto BUCCI, 2002. "Market Power, Human Capital and Growth," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2002012, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    4. Alberto Bucci, 2003. "R&D, Imperfect Competition and Growth with Human Capital Accumulation," Scottish Journal of Political Economy, Scottish Economic Society, vol. 50(4), pages 417-439, September.
    5. Alberto Bucci & Fabio Fiorillo & Stefano Staffolani, 2003. "Can Market Power Influence Employment, Wage Inequality and Growth?," Metroeconomica, Wiley Blackwell, vol. 54(2-3), pages 129-160, May.
    6. Stefania BUSSOLETTI & Roberto ESPOSTI, 2004. "Regional Convergence, Structural Funds and the Role of Agricolture in the EU. A Panel-Data Approach," Working Papers 220, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
    7. Onori, Daria, 2012. "Welfare, competition, specialization and growth," Research in Economics, Elsevier, vol. 66(4), pages 355-370.
    8. Marcello MESSORI & Alberto ZAZZARO, 2004. "Monetary profits within the circuit: Ponzi finance oer "mors tua, vita mea"?," Working Papers 200, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
    9. Elvio MATTIOLI, 2003. "The measurement of coherence in the evaluation of criteria and its effects or ranking problems illustrated using a multicriteria decision method," Working Papers 199, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.

    More about this item

    Keywords

    Endogenous Growth; Industrial Organisation and Macroeconoms; Innovation;

    JEL classification:

    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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