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Title: Endogenous growth with capital in R&D production functions
Author: Sánchez-Losada, Fernando
Keywords: Desenvolupament econòmic
Innovacions tecnològiques
Propietat intel·lectual
Política governamental
Economic development
Technological innovations
Intellectual property
Government policy
Issue Date: 2014
Publisher: Universitat de Barcelona. Facultat d'Economia i Empresa
Series/Report no: [WP E-Eco14/306]
Abstract: [eng] In this paper we claim that capital is as important in the production of ideas as in the production of final goods. Hence, we introduce capital in the production of knowledge and discuss the associated problems arising from the public good nature of knowledge. We show that although population growth can affect economic growth, it is not necessary for growth to arise. We derive both the social planner and the decentralized economy growth rates and show the optimal subsidy that decentralizes it. We also show numerically that the effects of population growth on the market growth rate, the optimal growth rate and the optimal subsidy are small. Besides, we find that physical capital is more important for the production of knowledge than for the production of goods.
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It is part of: UB Economics – Working Papers, 2014, E14/306
ISSN: 1136-8365
Appears in Collections:Documents de treball / Informes (Economia)
UB Economics – Working Papers [ERE]

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