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Human capital and technology in growth

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  • Alberto Bucci

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Abstract

This paper studies the economic determinants of the inter-sectoral allocation of skills within an R&Dbased growth model with human capital accumulation and imperfect competition. Using an aggregateR&D technology displaying constant returns to scale in human capital, I find that steady-state growth is driven only by skills accumulation and is independent of scale effects. In the model imperfect competition has no growth effect, while influencing the allocation of human capital to the different economic activities. Contrary to general wisdom, the share of resources invested in R&D turns out not to be monotonically increasing in the equilibrium output growth rate.

Suggested Citation

  • Alberto Bucci, 2001. "Human capital and technology in growth," Departmental Working Papers 2001-18, Department of Economics, Management and Quantitative Methods at Universit√† degli Studi di Milano.
  • Handle: RePEc:mil:wpdepa:2001-18
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    File URL: http://wp.demm.unimi.it/files/wp/2001/DEMM-2001_018wp.pdf
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    References listed on IDEAS

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    1. Stokey, Nancy L, 1988. "Learning by Doing and the Introduction of New Goods," Journal of Political Economy, University of Chicago Press, vol. 96(4), pages 701-717, August.
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    More about this item

    Keywords

    Endogenous Growth; R&D; Human Capital;

    JEL classification:

    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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