Market Power, Human Capital and Growth

Alberto Bucci (alberto.bucci@unimi.it)

No 2002012, LIDAM Discussion Papers IRES from Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES)

Abstract: In this paper we study the economic determinants of the inter-sectoral distribution of skilled workers and the long-run consequences of imperfect competition on growth within an R&D-based growth model with human capital accumulation. We find that steady-state growth is driven only by incentives to accumulate human capital and is independent of scale effects. In the model imperfect competition has a positive growth effect, while influencing the allocation of human capital to the diferent economic activities. Contrary to general wisdom, high R&D investment is not always associated with high output growth.

Keywords: Endogenous Growth; Human Capital; R&D (search for similar items in EconPapers)
JEL-codes: J24 O31 O41 (search for similar items in EconPapers)
Pages: 35
Date: 2002-04-01
New Economics Papers: this item is included in nep-dev and nep-lab
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ctl:louvir:2002012

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