SEMI-ENDOGENOUS VERSUS SCHUMPETERIAN GROWTH MODELS: TESTING THE KNOWLEDGE PRODUCTION FUNCTION USING INTERNATIONAL DATA

Jakob Madsen, Epru and Fru

No 26-07, Monash Economics Working Papers from Monash University, Department of Economics

Abstract: Using various indicators of innovative activity and product variety in the OECD countries over the past century, this paper tests whether first- and second-generation models of economic growth are consistent with the data over time and across countries. The estimation results give evidence in favour of Schumpeterian models while the semi-endogenous growth theories are not consistent with the data.

Keywords: Schumpeterian growth theory; semi-endogenous growth theory (search for similar items in EconPapers)
JEL-codes: O3 O4 (search for similar items in EconPapers)
Pages: 45 pages
Date: 2007
New Economics Papers: this item is included in nep-fdg
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Citations: View citations in EconPapers (17)

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Journal Article: Semi-endogenous versus Schumpeterian growth models: testing the knowledge production function using international data (2008)
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