Rising R&D Intensity and Economic Growth

Andreas Pollak

MPRA Paper from University Library of Munich, Germany

Abstract: Over the past decades, private R&D spending in the US and other developed countries has been growing faster than GDP. At the same time, the growth rates of per capita and aggregate output have been rather stable, possibly declining slightly. This paper proposes a growth model that can account for the observed phenomenon by explicitly describing competition among technological leaders and followers in individual markets in a way that is consistent with existing studies on firms’ motivation to invest in R&D. The model shows the possibility that the unsustainable trend of rising R&D intensity persists for a very long time.

Keywords: Endogenous Growth; Research & Development; Market Structure (search for similar items in EconPapers)
JEL-codes: L1 O3 O4 (search for similar items in EconPapers)
Date: 2009-08, Revised 2012-06
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Related works:
Journal Article: RISING R&D INTENSITY AND ECONOMIC GROWTH (2014)
Working Paper: Rising R&D Intensity and Economic Growth (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:49360

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