GROWTH AND COMPETITION IN A MODEL OF HUMAN CAPITAL ACCUMULATION AND RESEARCH
Journal of Applied Economic Sciences, 2009, vol. 4, issue 3(9)_Fall2009
The aim of this paper is to analyze the relationship between competition and growth in a model of human capital accumulation and research by disentangling the monopolistic mark-up in the intermediate goods sector and the returns to specialization in order to have a better measure of competition. We find that the steady-state output growth rate depends on the parameters describing preferences, human capital accumulation technology and R&D activity. We also show that the relationship between competition and growth is inverse U shaped. This result that seems to be in line these empirical results (Aghion and Griffith, (2005)) is explained by the resource allocation effect.
Keywords: endogenous growth; horizontal differentiation; technological change; imperfect competition; human capital (search for similar items in EconPapers)
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Working Paper: Growth and Competition in a Model of Human Capital Accumulation and Research (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:ush:jaessh:v:4:y:2009:i:3(9)_fall2009:70
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