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R&D, imperfect competition and growth with human capital accumulation

Author

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  • Alberto Bucci

Abstract

This paper studies the long-run consequences of imperfect competition on growth and the sectoral distribution of skills within an R&D-based growth model with human capital accumulation. We find that steady-state growth is driven only by incentives to accumulate skills. In the model imperfect competition has a positive growth effect, while influencing the allocation of human capital to the different economic activities employing this factor input. Contrary to general wisdom, the share of resources invested in R&D turns out not to be monotonically increasing in the product market power and its correlation with the equilibrium output growth rate is not unambiguous.

Suggested Citation

  • Alberto Bucci, 2003. "R&D, imperfect competition and growth with human capital accumulation," Departmental Working Papers 2003-011, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    • Handle: RePEc:mil:wpdepa:2003-011
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    More about this item

    Keywords

    Endogenous Growth; Human Capital; R&D;
    All these keywords.

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • 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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