R&D, imperfect competition and growth with human capital accumulation
(2003) Scottish Journal of Political Economy — Vol. 50, n° 4, p. 417-439 (2003)
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- Abstract
- This paper studies the long-run consequences of imperfect competition oil growth and the sectoral distribution of skills within all 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.
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Bucci, A. (2003). R&D, imperfect competition and growth with human capital accumulation. Scottish Journal of Political Economy, 50(4), 417-439. https://doi.org/10.1111/1467-9485.5004004 (Original work published 2003)