Education, Innovation, and Long-Run Growth

Katsuhiko Hori and Katsunori Yamada
Authors registered in the RePEc Author Service: 堀 勝彦 ()

ISER Discussion Paper from Institute of Social and Economic Research, The University of Osaka

Abstract: This study augments a second-generation Schumpeterian growth model to employ human capital explicitly. We clarify the general-equilibrium interactions of subsidy policies to R&D and human capital accumulation in a unified framework. Despite a standard intuition that subsidizing these growth-enhancing activities is always mutually growth promoting, we find a symmetric effects for subsidieson R&D and those on education. Our theoretical result of asymmetric policy effects provides an important empirical caveat that empirical researchers may find false negative relationships between education subsidies and the output growth rate, if they merely rely on the standard human capital model.

Date: 2009-03
New Economics Papers: this item is included in nep-dev, nep-dge, nep-edu and nep-hrm
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/2009/DP0731RR.pdf

Related works:
Journal Article: Education, Innovation and Long-Run Growth (2013)
Working Paper: Education, Innovation, and Long-Run Growth (2011)
Working Paper: Education, Innovation, and Long-Run Growth (2008)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:dpr:wpaper:0731

Access Statistics for this paper

More papers in ISER Discussion Paper from Institute of Social and Economic Research, The University of Osaka Contact information at EDIRC.
Bibliographic data for series maintained by Librarian ().