An R&D-Based Model of Multi-Sector Growth

L. Rachel Ngai and Roberto Samaniego ()

CEP Discussion Papers from Centre for Economic Performance, LSE

Abstract: We develop a multi-sector general equilibrium model in which productivity growth is driven by the production of sector-specific knowledge. In the model, we find that long run differences in total factor productivity growth across sectors are independent of the parameters of the knowledge production function except for one, which we term the fertility of knowledge. Differences in R&D intensity are also independent of most other parameters. The fertility of knowledge in the capital sector is central to the growth properties of the model economy.

Keywords: Endogenous technical change; multisector growth; fertility of knowledge; total factor productivity; R&D intensity; investment-specific technical change (search for similar items in EconPapers)
JEL-codes: D24 D92 O31 O41 (search for similar items in EconPapers)
Date: 2006-12
New Economics Papers: this item is included in nep-bec, nep-cse, nep-dge, nep-eff, nep-ino and nep-knm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Related works:
Working Paper: An R&D-based Model of Multi-sector Growth (2007)
Working Paper: An R&D-based model of multi-sector growth (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:cep:cepdps:dp0762

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