Endogenous Product Cycles
Gene Grossman () and
Economic Journal, 1991, vol. 101, issue 408, pages 1214-29
The authors construct a model of the product cycle featuring endogenous innovation and technology transfer. Competitive entrepreneurs in the industrialized North introduce new products whenever the expected present value of oligopoly profits exceeds the cost of product development. In the middle-income South, entrepreneurs devote resources to learning the production processes that have been developed in the North. The authors study the determinants of the long-run rate of growth of the world economy and the long-run rate of imitation. They also study the effects of exogenous events and of public policy on relative wage rates in the two regions. Copyright 1991 by Royal Economic Society.
References: Add references at CitEc
Citations View citations in EconPapers (111) Track citations by RSS feed
Downloads: (external link)
http://links.jstor.org/sici?sici=0013-0133%2819910 ... 0.CO%3B2-7&origin=bc full text (application/pdf)
Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.
Working Paper: ENDOGENOUS PRDUCT CYCLES (1989)
Working Paper: ENDOGEMOUR PRODUCT CYCLES (1989)
Working Paper: Endogenous Product Cycles (1989)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: http://EconPapers.repec.org/RePEc:ecj:econjl:v:101:y:1991:i:408:p:1214-29
Ordering information: This journal article can be ordered from
http://www.blackwell ... al.asp?ref=0013-0133
Access Statistics for this article
Economic Journal is currently edited by Martin Cripps, Steve Machin, Woulter den Haan, Andrea Galeotti, Rachel Griffith and Frederic Vermeulen
More articles in Economic Journal from Royal Economic Society Contact information at EDIRC.
Series data maintained by Wiley-Blackwell Digital Licensing ().