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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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 |
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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: | |
URI: | https://livrepository.liverpool.ac.uk/id/eprint/3044315 |