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Growth And Public Support To Innovation And Imitation

  • Fidel Pérez Sebastián

    ()

    (Universidad de Alicante)

The paper studies technology policy within a version of Jones's (1995) non-scale R&D-based growth framework that incorporates imitation of foreign techniques. The transitional dynamics of the model can account for some well-known empirical regularities regarding the relationship between the level of economic development and public support to technology innovation and imitation. The paper also documents that mos predictions of the model are consistent with the empirical evidence. Overall, these results suggest that foreign techniques can be the main driving force behind imitation policy. The paper shows as well that, even though policy in Jones-type non-scale models has no long-run growth effects, level effects can be substantial.

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File URL: http://www.ivie.es/downloads/docs/wpasad/wpasad-2001-31.pdf
File Function: Fisrt version / Primera version, 2001
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Paper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie AD with number 2001-31.

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Length: 39 pages
Date of creation: Dec 2001
Date of revision:
Publication status: Published by Ivie
Handle: RePEc:ivi:wpasad:2001-31
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  1. Jovanovic, B. & MacDonald, G.M., 1991. "Competitive Diffusion," Papers 92-08, Rochester, Business - Financial Research and Policy Studies.
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  13. Perez-Sebastian, Fidel, 2000. "Transitional dynamics in an R&D-based growth model with imitation: Comparing its predictions to the data," Journal of Monetary Economics, Elsevier, vol. 45(2), pages 437-461, April.
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  19. Segerstrom, P.S., 1990. "Innovation, Imitation And Economic Growth," Papers 8818, Michigan State - Econometrics and Economic Theory.
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  25. Lawrence J. Christiano, 1989. "Understanding Japan's saving rate: the reconstruction hypothesis," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Spr, pages 10-25.
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  27. Rustichini, Aldo & Schmilz, James Jr., 1991. "Research and imitation in long-run growth," Journal of Monetary Economics, Elsevier, vol. 27(2), pages 271-292, April.
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