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Semi-Endogenous Versus Schumpeterian Growth Models: Testing The Knowledge Production Function Using International Data

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  • Jakob B. Madsen
  • EPRU
  • FRU

Abstract

Using various indicators of innovative activity and product variety in the OECD countries over the past century, this paper tests whether first- and second-generation models of economic growth are consistent with the data over time and across countries. The estimation results give evidence in favour of Schumpeterian models while the semi-endogenous growth theories are not consistent with the data.

Suggested Citation

  • 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.
    • Handle: RePEc:mos:moswps:2007-26
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    More about this item

    Keywords

    Schumpeterian growth theory; semi-endogenous growth theory;

    JEL classification:

    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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