From Solow to Schumpeter: a two-stage endogenous model of economic growth
This paper studies the determinants which enable an economy to enter an innovation-driven growth stage. We present a model in which the final good is produced with labor and an intermediate good. This intermediate good is produced by default in a competitive market, but a firm can have the possibili...
Guardado en:
| Autores principales: | , , , |
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| Otros Autores: | |
| Formato: | Tesis de grado acceptedVersion |
| Lenguaje: | Inglés |
| Publicado: |
Universidad Torcuato Di Tella
2017
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| Materias: | |
| Acceso en línea: | http://repositorio.utdt.edu/handle/utdt/1504 |
| Aporte de: |
| Sumario: | This paper studies the determinants which enable an economy to enter an innovation-driven growth stage. We present a model in which the final good is produced with labor and an intermediate good. This intermediate good is produced by default in a competitive market, but a firm can have the possibility to invest in research and development and, if successful, become the monopolist in the market for a period. Successful research generates improvements in productivity that make long term economic growth possible. We derive a condition to be met in order to initiate innovation, and additionally we analyze specific policies that may help commence innovation in an economy which originally does not meet the precedent condition. |
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