A Nonscale Growth Model with R&d and Human Capital Accumulation
نویسنده
چکیده
This paper aims to contribute to the new growth theory with a model in which the engine of growth is human capital growth. Building on Romer’s [1990] model, two new functions are introduced: (1) A speci...cation for the production of new designs that assumes no externalities and no inventions before time zero; and (2) A speci...cation for the accumulation of human capital technically similar to that in Lucas [1988]. As opposed to Romer’s model, the scale-e¤ects prediction is eliminated because technological growth does not depend on the number of researchers, but instead on the rate of growth of human capital. Moreover, the model introduced carries a new prediction: Growth depends positively on the ratio of ...nal-good workers to researchers. JEL Classi...cation: O0; O3; O4; D5.
منابع مشابه
Estimating Optimum Value of Investment and Human Capital in the R&D Sector of Iran Using an Augmented Endogenous Growth Model
This article intends to estimate the optimal value of investment and human capital in R&D sector of Iranian economy using an augmented endogenous growth model. To do so, two issues have been studied. First, an endogenous growth model has been extended to include investment in R&D as an independent variable. In the framework of this model, in order to determine the optimal value of investment an...
متن کاملThe Role of Human Capital and R&D in Total Factor Productivity in the Mining Sector
Promoting Total Factor Productivity (TFP) is one of the methods to improve the competitiveness in the mining sector. Even so, it is of great importance to find a practical solution for productivity improvement. In this study, value added was measured by an innovative method based on the Divisia quantity index for seven mineral activities for the period 1994-2016. The results of calculating TFP ...
متن کاملStudy the Impact of Creativity on Economic Growth in Selected Countries
According to modern development theories, creativity plays an important role in economic growth through shifting human capabilities to human feasibilities. In fact, the milestone of development is when human, human mind, its infinite power, and human capabilities came in to consideration. So, the objective of this research is to study the effect of global indicators of creativity on economic gr...
متن کاملCapital Accumulation and Convergence in a Small Open Economy
Outward-oriented economies seem to grow faster than inward-looking ones. Does the literature on convergence have anything to say on this? In the dynamic Heckscher-Ohlin-Samuelson model, with factor-price equalization, there is no convergence of incomes. This is because with identical preferences and return to capital, irrespective of initial levels the growth rates of consumption are the same....
متن کاملHuman Capital, R&D and Economic Growth
People go to school and firms do R&D. These activities result in human capital accumulation and new ideas and technologies which make economies grow. We try to capture the interaction between human capital and R&D by allowing for endogenous human capital accumulation in an economy where the number of products and technologies expands because profit maximizing entrepreneurs do R&D. We find that,...
متن کامل