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Complementary Relationships between Education and Innovation

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  • Katsuhiko Hori
  • Katsunori Yamada

Abstract

This paper combines two prototype endogenous growth models: the Schumpeterian endogenous growth model developed by [Howitt(1999)] and human capital growth models developed by [Uzawa(1965)] - [Lucas(1988)]. While standard Schumpeterian growth models suggest that a subsidy to R&D has long-run effects, we show that a subsidy to human capital investment has a positive impact on R&D efforts as well as on human capital accumulation. Because in our model, the per capita output growth rate depends on both technology improvements and human capital accumulation, the model bridges the gap between the literature concerning Schumpeterian growth model and that concerning growth empirics.

Suggested Citation

  • Katsuhiko Hori & Katsunori Yamada, 2009. "Complementary Relationships between Education and Innovation," ISER Discussion Paper 0731, Institute of Social and Economic Research, The University of Osaka.
    • Handle: RePEc:dpr:wpaper:0731
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    File URL: https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/DP0731.pdf
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