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External vs. internal learning-by-doing in an R&D based growth model

Author

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  • Andreas Hornstein
  • Dan Peled

Abstract

In an economy where growth is determined by the interaction of R&D and learning-by-doing (LBD), changes of factors that stimulate either one of these activities affect growth differently than in an economy where growth is determined by either R&D or LBD alone. In particular, when firms anticipate that R&D for new types of goods threatens the future efficiency gains which they derive from LBD, a more efficient learning process or a larger workforce might reduce rather than increase the growth rate on a balanced growth path.

Suggested Citation

  • Andreas Hornstein & Dan Peled, 1998. "External vs. internal learning-by-doing in an R&D based growth model," Working Paper 98-01, Federal Reserve Bank of Richmond.
    • Handle: RePEc:fip:fedrwp:98-01
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    Cited by:

    1. Yoshiaki Sugimoto, 2003. "Inequality, Growth, and Overtaking," Data 0304001, University Library of Munich, Germany.
    2. Theo S Eicher & Klaas vant Veld, 2000. "Search in Research: An Evolutionary Approach to Technical Change and Growth"," Discussion Papers in Economics at the University of Washington 0005, Department of Economics at the University of Washington.
    3. Andrea Mario Lavezzi & Davide Fiaschi, 2004. "Nonlinear Growth and the Productivity Slowdown," Computing in Economics and Finance 2004 162, Society for Computational Economics.
    4. Habibullah, M.S. & Dayang-Afizzah, A.M., 2008. "Bordering neighbours: Testing for border effect on Malaysia's northern states and Southern Thailand," MPRA Paper 12103, University Library of Munich, Germany.
    5. Lagerlöf, Nils-Petter & Tangerås, Thomas, 2005. "Human Capital, Rent Seeking, and a Transition from Stagnation to Growth," Working Paper Series 656, Research Institute of Industrial Economics.
    6. Andreas Hornstein & Per Krusell, 2003. "Implications of the capital-embodiment revolution for directed R&D and wage inequality," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 89(Fall), pages 25-50.
    7. Yoshiaki Sugimoto, 2005. "Inequality, Growth, and Overtaking," Development and Comp Systems 0508012, University Library of Munich, Germany.

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