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Endogenous Growth with Technological Change: A Model Based on R&D Expenditure

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  • Mª Jesús Freire-Serén

    (Universidade de Vigo)

Abstract

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.

Suggested Citation

  • Mª Jesús Freire-Serén, 2000. "Endogenous Growth with Technological Change: A Model Based on R&D Expenditure," Documentos de trabajo - Analise Economica 0013, IDEGA - Instituto Universitario de Estudios e Desenvolvemento de Galicia.
  • Handle: RePEc:edg:anecon:0013
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    More about this item

    Keywords

    Technological change; endogenous growth; aggregateR&D-expenditure; empirical evidence.;

    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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