Innovation and growth: What have we learnt from the robustness debate?

Christian Groth ()

No 04-29, Discussion Papers from University of Copenhagen. Department of Economics

Abstract: The recurrent issues of "non-robustness" and "scale effects" are discussed within a unified framework for the presentation of different generations of innovation-based growth models. With a certain proviso robust innovation-based growth models tend to end up with the long-run per capita growth rate pinned down by population growth. That is, the long-run prospect seems to be semi-endogenous growth. This is so also when essential non-renewable resources are taken into account. Semi-endogenous growth need not imply policy-invariant growth. Non-renewable resources may imply instability problems of an unfamiliar kind. The projected slowdown of population growth is likely to decrease future per capita growth as well as the discount rate relevant for evaluation of long-term environmental projects.

Keywords: endogenous growth; non-renewable resources; instability; limits to growth; discounting the distant future (search for similar items in EconPapers)
JEL-codes: O4 Q3 (search for similar items in EconPapers)
Pages: 18 pages
Date: 2004-06, Revised 2004-11
New Economics Papers: this item is included in nep-ino
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.econ.ku.dk/english/research/publications/wp/2004/0429.pdf/ (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kud:kuiedp:0429

Access Statistics for this paper

More papers in Discussion Papers from University of Copenhagen. Department of Economics Oester Farimagsgade 5, Building 26, DK-1353 Copenhagen K., Denmark. Contact information at EDIRC.
Bibliographic data for series maintained by Thomas Hoffmann ().