A Nonscale Growth Model with R&D and Human Capital Accumulation

Maria-Joao Ribeiro

No 269345, Economic Research Papers from University of Warwick - Department of Economics

Abstract: This paper aims to contribute to the new growth theory with a model in which the engine of growth is human capital growth. Building on Romer’s [1990] model, two new functions are introduced: (1) A speci…cation for the production of new designs that assumes no externalities and no inventions before time zero; and (2) A speci…cation for the accumulation of human capital technically similar to that in Lucas [1988]. As opposed to Romer’s model, the scale-e¤ects prediction is eliminated because technological growth does not depend on the number of researchers, but instead on the rate of growth of human capital. Moreover, the model introduced carries a new prediction: Growth depends positively on the ratio of …nal-good workers to researchers.

Keywords: Labor and Human Capital; Research and Development/Tech Change/Emerging Technologies; Research Methods/Statistical Methods (search for similar items in EconPapers)
Pages: 18
Date: 2000-11-11
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:uwarer:269345

DOI: 10.22004/ag.econ.269345

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