R&D, Learning, and Phases of Economic Growth
24 Pages Posted: 15 Feb 2000
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R&D, Learning, and Phases of Economic Growth
Number of pages: 24
Posted: 15 Feb 2000
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Date Written: November 12, 1999
Abstract
The role of learning and R&D in economic development is addressed in an endogenous growth model. When human capital is below a threshold level, the model predicts that skills are accumulated as the only growth-generating activity, whereas both innovation activities and learning drive growth above this level. Hence, an endogenous regime shift is triggered when the level of human capital reaches the threshold level, because it becomes profitable to innovate.
JEL Classification: O11, O33, I21
Suggested Citation: Suggested Citation
Sorensen, Anders, R&D, Learning, and Phases of Economic Growth (November 12, 1999). Available at SSRN: https://ssrn.com/abstract=205672 or http://dx.doi.org/10.2139/ssrn.205672
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