Semi-endogenous growth models with domestic and foreign private and public R&D linked to VECMs

Thomas Ziesemer ()

No 2019-025, MERIT Working Papers from United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT)

Abstract: We present semi-endogenous growth models with total-factor productivity as functions of domestic and foreign private and public R&D. In a small country case with a Cobb-Douglas TFP production function, foreign R&D drives steady-state growth and the production function can be a long-term relation in a vector-error-correction model. Marginal productivity conditions can be long-term relations for a vector-error-correction model if the functional form is of a Cobb-Douglas type or a CES function generalised to a VES function. In case of a VES function, steady states exist only for special cases of parameter restrictions.

Keywords: Productivity; endogenous (un)balanced growth; public R&D expenditure; foreign spillover (search for similar items in EconPapers)
JEL-codes: H54 H87 O38 O40 O41 (search for similar items in EconPapers)
Date: 2019-08-02
New Economics Papers: this item is included in nep-gro and nep-ino
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Citations: View citations in EconPapers (3)

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Journal Article: Semi-endogenous growth models with domestic and foreign private and public R&D linked to VECMs (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:unm:unumer:2019025

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