Endogenous Growth with Technological Change: A Model Based on R&D Expenditure
The aim of this paper is to empirically analyze the role that aggregate R&D-expenditures play in economic growth. We introduce a technology of innovation based on R&D-expenditures instead of labor to see how this consideration generates sustainable growth determined endogenously, even if population growth does not exist. Therefore, it also seems relevant to analyze the effects of some fiscal policies. For the empirical analysis we make use of an econometric model obtained from the decentralized equilibrium. More precisely, the specification is obtained using the free-entry condition that the competitive equilibrium states for the R&D-activity and the policy function defining the dynamic evolution of patentees' price.
|Date of creation:||2000|
|Date of revision:|
|Contact details of provider:|| Postal: Chalé dos Catedráticos, 1. Avda. das Ciencias s/n. Campus Vida, 15782 Santiago de Compostela|
Phone: 981 59 11 66
Fax: 981 59 99 35
Web page: http://www.usc.es/idega/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:edg:anecon:0013. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Manuel Fernandez Grela)
If references are entirely missing, you can add them using this form.