Combining semi-endogenous and fully endogenous growth: A generalization

Guido Cozzi

Economics Letters, 2017, vol. 155, issue C, 89-91

Abstract: This paper shows that combining the semi-endogenous and the fully endogenous growth mechanisms with a general CES aggregator, either growth process can prevail in the balanced growth path depending on their degree of complementarity/substitutability. Policy-induced long-run economic switches to the fully endogenous steady state as the R&D employment ratio surpasses a positive threshold are possible if the two growth engines are gross substitutes.

Keywords: Strong scale effect; Semi-endogenous growth; Fully endogenous growth (search for similar items in EconPapers)
JEL-codes: O30 O40 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

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Working Paper: Combining Semi-Endogenous and Fully Endogenous Growth: a Generalization (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:155:y:2017:i:c:p:89-91

DOI: 10.1016/j.econlet.2017.03.027

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