EconPapers    
Economics at your fingertips  
 

Semi-endogenous growth models with domestic and foreign private and public R&D linked to VECMs with evidence for five countries

Thomas Ziesemer ()

No 2020-013, MERIT Working Papers from United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT)

Abstract: We present semi-endogenous growth models with productivity as functions of domestic and foreign private and public R&D. In a small country case with a Cobb-Douglas productivity production function, foreign R&D drives steady-state growth and the production function can be a long-term relation in a vector-error-correction model (VECM). Marginal productivity conditions can be long-term relations for a vector-error-correction model if the functional form is of a VES function generalising a CES function. Combining the marginal products of VES functions with recent evidence from VECMs for five countries shows that private and public R&D have a positive effect on productivity (except for France), and a negative R&D augmenting technical change. In case of a VES function, steady states with constant R&D/productivity ratios exist only for special cases of parameter restrictions, which are not supported by the evidence.

Keywords: Productivity; endogenous (un)balanced growth; public R&D expenditure; foreign spillover (search for similar items in EconPapers)
JEL-codes: H54 H87 O38 O40 O41 (search for similar items in EconPapers)
Date: 2020-03-31
New Economics Papers: this item is included in nep-eff and nep-ino
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
https://www.merit.unu.edu/publications/wppdf/2020/wp2020-013.pdf (application/pdf)

Related works:
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:unm:unumer:2020013

Access Statistics for this paper

More papers in MERIT Working Papers from United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT) Contact information at EDIRC.
Bibliographic data for series maintained by Ad Notten ().

 
Page updated 2021-07-11
Handle: RePEc:unm:unumer:2020013