R&D, imperfect competition and growth with human capital accumulation

Alberto Bucci ()

Departmental Working Papers from Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano

Abstract: This paper studies the long-run consequences of imperfect competition on growth and the sectoral distribution of skills within an R&D-based growth model with human capital accumulation. We find that steady-state growth is driven only by incentives to accumulate skills. In the model imperfect competition has a positive growth effect, while influencing the allocation of human capital to the different economic activities employing this factor input. Contrary to general wisdom, the share of resources invested in R&D turns out not to be monotonically increasing in the product market power and its correlation with the equilibrium output growth rate is not unambiguous.

Keywords: Endogenous Growth; Human Capital; R&D (search for similar items in EconPapers)
JEL-codes: J24 O31 O41 (search for similar items in EconPapers)
Date: 2003-01-01
New Economics Papers: this item is included in nep-dev
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Citations: View citations in EconPapers (7)

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Related works:
Journal Article: R&D, Imperfect Competition and Growth with Human Capital Accumulation (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:mil:wpdepa:2003-11

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