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Steady Endogenous Growth with Population and R. & D. Inputs Growing
Abstract
This paper presents a Schumpeterian endogenous growth model in which a steady state exists with a constant growth rate even though population and the inputs to R. & D. are growing. The scale effect of rising population is nullified by product proliferation that fragments the growing demand for intermediate prodcuts, thus preventing the reward to any specific innovation from rising with population. All the ususal comparitive statics results of Schumpeterian growth theory are valid, including the positive effect of R. & D. subsidies on growth.
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Cited by
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Bloom, N., Jones, C. I., Van Reenen, J., & Webb, M. (2020) · American Economic Review · doi:10.1257/aer.20180338 · Cited by 1,002
The Effect of Financial Development on Convergence: Theory and Evidence*
Aghion, P., Howitt, P., & Mayer-Foulkes, D. (2005) · Quarterly Journal of Economics · doi:10.1162/qjec.2005.120.1.173 · Cited by 962
Self-citationThe past and future of knowledge-based growth
Strulik, H., Prettner, K., & Prskawetz, A. (2013) · Journal of Economic Growth · doi:10.1007/s10887-013-9098-9 · Cited by 163
Why it pays off to pay us well: The impact of basic research on economic growth and welfare
Prettner, K., & Werner, K. (2016) · Research Policy · doi:10.1016/j.respol.2016.03.001 · Cited by 80
Howitt, P. (2008) · The New Palgrave Dictionary of Economics · doi:10.1057/978-1-349-95121-5_2545-1 · Cited by 42
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Metadata
- Authors
- Howitt, P.
- Venue
- Journal of Political Economy
- Publisher
- University of Chicago Press
- Published
- 1999-08
- Volume
- 107
- Issue
- 4
- Pages
- 715-730
- ISSN
- 0022-3808 (ISSN-L)
- 1537-534X
- OpenAlex
- W1971953248
- Cited by
- 632
- References
- 0
- FWCI
- 34.87
- Type
- journal article
- Language
- en
- Open access
- closed
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
