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Vertical diversity and equilbrium growth

  • Satya P. Das

    ()

    (Indian Statistical Institute, New Delhi)

This paper examines the effect of an increase in vertical diversity in workers' skill on the long run growth rate of an economy. It uses a two-secror model where the techonology of the consumption-good sector is supermodular and that of the R&D sector is submodular. By adopting Grossman and Maggi's(2000) model to a framework of growth based on R&D, it shows first that diversity is condutive to growth. As the main innovation, communication gap is introduced among workers. It is then shown that growth may not be increasing with diversity. There may be an inverse-U shaped relationship.

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File URL: http://www.isid.ac.in/~pu/dispapers/dp04-18.pdf
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Paper provided by Indian Statistical Institute, New Delhi, India in its series Indian Statistical Institute, Planning Unit, New Delhi Discussion Papers with number 04-18.

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Length: 33 pages
Date of creation: Jun 2004
Date of revision:
Handle: RePEc:ind:isipdp:04-18
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  1. Kevin M. Murphy & Andrei Shleifer & Robert W. Vishny, 1990. "The Allocation of Talent: Implications for Growth," NBER Working Papers 3530, National Bureau of Economic Research, Inc.
  2. Grossman, Gene & Maggi, Giovanni, 1998. "Diversity and Trade," CEPR Discussion Papers 2005, C.E.P.R. Discussion Papers.
  3. Robert J. Barro, 1988. "Government Spending in a Simple Model of Endogenous Growth," NBER Working Papers 2588, National Bureau of Economic Research, Inc.
  4. Banerjee, Abhijit V & Duflo, Esther, 2003. " Inequality and Growth: What Can the Data Say?," Journal of Economic Growth, Springer, vol. 8(3), pages 267-99, September.
  5. Kaushik Basu, 2003. "Analytical Development Economics: The Less Developed Economy Revisited," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262523442, June.
  6. Easterly, William & Levine, Ross, 1997. "Africa's Growth Tragedy: Policies and Ethnic Divisions," The Quarterly Journal of Economics, MIT Press, vol. 112(4), pages 1203-50, November.
  7. Milgrom, Paul & Roberts, John, 1990. "The Economics of Modern Manufacturing: Technology, Strategy, and Organization," American Economic Review, American Economic Association, vol. 80(3), pages 511-28, June.
  8. Kremer, Michael, 1993. "The O-Ring Theory of Economic Development," The Quarterly Journal of Economics, MIT Press, vol. 108(3), pages 551-75, August.
  9. Barro, Robert J, 2000. " Inequality and Growth in a Panel of Countries," Journal of Economic Growth, Springer, vol. 5(1), pages 5-32, March.
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