Education, Innovation, and Long-Run Growth
This paper combines three prototype endogenous growth models, the models with human capital accumulation introduced by Uzawa  and Lucas , variety expansion by Romer , and quality improvements by Aghion and Howitt , in order to investigate how these three engines of growth interact. We show that a subsidy to human capital accumulation has a positive impact on R&D effort, as well as on human capital accumulation. On the other hand, a subsidy to R&D sectors does not affect human capital accumulation in our model. Moreover, we show that equilibrium dynamics is locally saddle-path stable around the steady growth path. It suggests that Schumpeterian growth models `a la Howitt  should share the locally saddle-path stable property. Finally, since in our model the percapita output growth rate is endogenously determined by both technology improvements and human capital accumulation, it bridges the gap between the literature on Schumpeterian growth models and that on growth empirics.
|Date of creation:||2008|
|Date of revision:|
|Contact details of provider:|| Postal: 2-15-45, Mita, Minato-ku, Tokyo 108-8345|
Web page: http://ies.keio.ac.jp/old_project/old/gcoe-econbus/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Marios Zachariadis, .
"R&D-Induced Growth in the OECD?,"
Departmental Working Papers
2001-02, Department of Economics, Louisiana State University.
- Daron Acemoglu, 1997. "Training and Innovation in an Imperfect Labour Market," Review of Economic Studies, Oxford University Press, vol. 64(3), pages 445-464.
- Grossmann, Volker, 2007.
"How to promote R&D-based growth? Public education expenditure on scientists and engineers versus R&D subsidies,"
Journal of Macroeconomics,
Elsevier, vol. 29(4), pages 891-911, December.
- Volker Grossmann, 2004. "How to Promote R&D-based Growth? Public Education Expenditure on Scientists and Engineers versus R&D Subsidies," CESifo Working Paper Series 1225, CESifo Group Munich.
- Peretto, Pietro F, 1998.
" Technological Change and Population Growth,"
Journal of Economic Growth,
Springer, vol. 3(4), pages 283-311, December.
- Connolly, Michelle & Peretto, Pietro F, 2003. " Industry and the Family: Two Engines of Growth," Journal of Economic Growth, Springer, vol. 8(1), pages 115-48, March.
- Sergio Rebelo, 1999.
"Long Run Policy Analysis and Long Run Growth,"
Levine's Working Paper Archive
2114, David K. Levine.
- Madsen, Jakob B., 2010. "The anatomy of growth in the OECD since 1870," Journal of Monetary Economics, Elsevier, vol. 57(6), pages 753-767, September.
- James B. Ang & Jakob B. Madsen, 2011.
"Can Second-Generation Endogenous Growth Models Explain the Productivity Trends and Knowledge Production in the Asian Miracle Economies?,"
The Review of Economics and Statistics,
MIT Press, vol. 93(4), pages 1360-1373, November.
- James B. Ang & Jakob B. Madsen, 2010. "Can Second-Generation Endogenous Growth Models Explain The Productivity Trends And Knowledge Production In The Asian Miracle Economies?," CAMA Working Papers 2010-05, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
- Ang, James & Madsen, Jakob, 2009. "Can Second-Generation Endogenous Growth Models Explain The Productivity Trends and Knowledge Production In the Asian Miracle Economies?," MPRA Paper 17543, University Library of Munich, Germany.
- N. Gregory Mankiw & David Romer & David N. Weil, 1992.
"A Contribution to the Empirics of Economic Growth,"
The Quarterly Journal of Economics,
Oxford University Press, vol. 107(2), pages 407-437.
- Sakakibara, Mariko & Branstetter, Lee, 2001. "Do Stronger Patents Induce More Innovation? Evidence from the 1988 Japanese Patent Law Reforms," RAND Journal of Economics, The RAND Corporation, vol. 32(1), pages 77-100, Spring.
- Jakob B. Madsen & EPRU & FRU, 2007.
"Semi-Endogenous Versus Schumpeterian Growth Models: Testing The Knowledge Production Function Using International Data,"
Monash Economics Working Papers
26-07, Monash University, Department of Economics.
- Jakob Madsen, 2008. "Semi-endogenous versus Schumpeterian growth models: testing the knowledge production function using international data," Journal of Economic Growth, Springer, vol. 13(1), pages 1-26, March.
- Jinli Zeng, 2002.
"Reexamining the Interaction between Innovation and Capital Accumulation,"
Departmental Working Papers
wp0203, National University of Singapore, Department of Economics.
- Zeng, Jinli, 2003. "Reexamining the interaction between innovation and capital accumulation," Journal of Macroeconomics, Elsevier, vol. 25(4), pages 541-560, December.
- Dinopoulos, Elias & Thompson, Peter, 1998. " Schumpeterian Growth without Scale Effects," Journal of Economic Growth, Springer, vol. 3(4), pages 313-35, December.
- Jakob B. Madsen & James B. Ang & Rajabrata Banerjee, 2010.
"Four Centuries of British Economic Growth: The Roles of Technology and Population,"
CAMA Working Papers
2010-18, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
- Jakob Madsen & James Ang & Rajabrata Banerjee, 2010. "Four centuries of British economic growth: the roles of technology and population," Journal of Economic Growth, Springer, vol. 15(4), pages 263-290, December.
- Madsen, Jakob & Ang, James & Banerjee, Rajabrata, 2010. "Four Centuries of British Economic Growth: The Roles of Technology and Population," MPRA Paper 23510, University Library of Munich, Germany.
- Stephen Machin & Panu Pelkonen & Kjell Salvanes, 2008.
"Education and Mobility,"
CEE Discussion Papers
0100, Centre for the Economics of Education, LSE.
- Stephen Machin & Panu Pelkonen & Kjell Salvanes, 2008. "Education and mobility," LSE Research Online Documents on Economics 28277, London School of Economics and Political Science, LSE Library.
- Machin, Stephen & Pelkonen, Panu & Salvanes, Kjell G., 2008. "Education and Mobility," IZA Discussion Papers 3845, Institute for the Study of Labor (IZA).
- Ulku, Hulya, 2005.
"R&D, Innovation and Growth: Evidence from Four Manufacturing Sectors in OECD Countries,"
Development Economics and Public Policy Working Papers
30542, University of Manchester, Institute for Development Policy and Management (IDPM).
- Hulya Ulku, 2007. "R&D, innovation, and growth: evidence from four manufacturing sectors in OECD countries," Oxford Economic Papers, Oxford University Press, vol. 59(3), pages 513-535, July.
- Arnold, Lutz G., 1998. "Growth, Welfare, and Trade in an Integrated Model of Human-Capital Accumulation and Research," Journal of Macroeconomics, Elsevier, vol. 20(1), pages 81-105, January.
- Nicolas Serrano-Velarde & Douglas Hanley & Ufuk Akcigit, 2011. "Back to Basics: Private and Public Investment in Basic R&D and Macroeconomic Growth," 2011 Meeting Papers 1196, Society for Economic Dynamics.
When requesting a correction, please mention this item's handle: RePEc:kei:dpaper:2008-041. 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: (Global COE Program Office)The email address of this maintainer does not seem to be valid anymore. Please ask Global COE Program Office to update the entry or send us the correct email address
If references are entirely missing, you can add them using this form.