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http://hdl.handle.net/2445/175959
Title: | How Important Are Scale Effects for Growth When Knowledge Is a Public Good? |
Author: | Sánchez-Losada, Fernando |
Keywords: | Gestió del coneixement Recerca Béns públics Productivitat Knowledge management Research Public goods Productivity |
Issue Date: | Apr-2019 |
Publisher: | Wiley |
Abstract: | In this paper, by proposing an R&D accumulation law for an economy with an expanding number of firms, I seek to reconcile the following three facts: the positive relationship between the fraction of income allocated to R&D expenditure and growth; the positive relationship between the number of firms and total factor productivity growth; and knowledge as a non‐rival and non‐excludable good. There are scale effects because of the public nature of knowledge, but the economy also grows in the absence of population growth. I find that population growth explains one‐fifth of market income growth but only one‐sixteenth of efficient income growth. |
Note: | Versió postprint del document publicat a: https://doi.org/10.1111/sjoe.12273 |
It is part of: | The Scandinavian Journal of Economics, 2019, vol. 121, num. 2, p. 763-782 |
URI: | http://hdl.handle.net/2445/175959 |
Related resource: | https://doi.org/10.1111/sjoe.12273 |
ISSN: | 0347-0520 |
Appears in Collections: | Articles publicats en revistes (Economia) |
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File | Description | Size | Format | |
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709984.pdf | 360.92 kB | Adobe PDF | View/Open |
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