Endogenous vs. Semi‐endogenous Growth in a Two‐R&D‐Sector Model
Bibliographic Data
| ID | 9709005 |
|---|---|
| Authors | Chol‐Won Li (University of Glasgow, corresponding author) |
| Year | 2000 |
| Volume | 110 |
| Issue | 462 |
| Pages | C109-C122 |
| Publication date | 2000-03-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/1468-0297.00524 |
| OpenAlex | W2068967616 |
| Language | EN |
| Citations received | 7 |
| References cited | 4 |
This paper contributes to the endogenous versus semi‐endogenous growth debate by establishing that semi‐endogenous growth is more general than endogenous growth in a two‐R&D‐sector growth model. It is demonstrated that endogenous growth requires two 'knife‐edge' conditions of parameters. This finding (i) is in sharp contrast to recent two‐R&D‐sector models that show that long‐run growth is endogenous, and (ii) resurrects the policy conclusion of semi‐endogenous growth that government policy is not effective in raising the underlying growth rate of an economy. The driving force of these results is knowledge spillovers between two R&D activities, which are largely neglected in existing studies
Economics · Endogenous growth theory · Endogeny · Growth theory · Human capital · Market economy · Neoclassical economics · Biochemistry · Chemistry · Economic Growth and Productivity · Economic Theory and Policy · Fiscal Policy and Economic Growth
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| Citations per year | 0.32 |
|---|---|
| Citation span | 2004 - 2023 (20) |
| Highly cited | No |