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Market Power, Human Capital and Growth

  • Alberto BUCCI

    (UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES))

In this paper we study the economic determinants of the inter-sectoral distribution of skilled workers and the long-run consequences of imperfect competition on growth within an R&D-based growth model with human capital accumulation. We find that steady-state growth is driven only by incentives to accumulate human capital and is independent of scale effects. In the model imperfect competition has a positive growth effect, while influencing the allocation of human capital to the diferent economic activities. Contrary to general wisdom, high R&D investment is not always associated with high output growth.

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Paper provided by Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) in its series Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) with number 2002012.

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Length: 35
Date of creation: 01 Apr 2002
Date of revision:
Handle: RePEc:ctl:louvir:2002012
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