R&D POLICY IN THE ECONOMY WITH STRUCTURAL CHANGE AND HETEROGENEOUS SPILLOVERS

Bondarev, Anton ORCID: 0000-0003-4572-2405 (2021) R&D POLICY IN THE ECONOMY WITH STRUCTURAL CHANGE AND HETEROGENEOUS SPILLOVERS. MACROECONOMIC DYNAMICS, 25 (5). pp. 1247-1266.

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Official URL: http://dx.doi.org/10.1017/s1365100519000646

Abstract

<jats:p>This paper develops an endogenous growth model with doubly differentiated R&D being the growth engine. The model incorporates dynamic structural change and heterogeneous knowledge spillovers. As a result, decentralized economy may exhibit non-monotonic growth paths and declining R&D productivity. Conditions on the knowledge spillover operator granting the existence of balanced growth for first-best and market economies are obtained. Different regulation tools helpful in achieving the sustainable path and their limits are studied.</jats:p>

Item Type:	Article
Uncontrolled Keywords:	Endogenous Structural Change, Knowledge Spillovers, Dynamic Stability, Government Regulation, Sustainable Growth
Depositing User:	Symplectic Admin
Date Deposited:	04 Jun 2019 07:15
Last Modified:	19 Jan 2023 00:41
DOI:	10.1017/S1365100519000646
Related URLs:	Author Publisher
URI:	https://livrepository.liverpool.ac.uk/id/eprint/3044315