Capital accumulation, learning, and endogenous growth

Citation
C. Van Marrewijk, Capital accumulation, learning, and endogenous growth, OX ECON PAP, 51(3), 1999, pp. 453-475
Citations number
21
Categorie Soggetti
Economics
Journal title
OXFORD ECONOMIC PAPERS-NEW SERIES
ISSN journal
00307653 → ACNP
Volume
51
Issue
3
Year of publication
1999
Pages
453 - 475
Database
ISI
SICI code
0030-7653(199907)51:3<453:CALAEG>2.0.ZU;2-W
Abstract
I develop a growth model with three sectors of production (final goods, int ermediate goods, and R&D), each with a different technology using three inp uts (labor, capital, and knowledge), and combining elements from three stra nds of the literature (neoclassical growth, and AK and R&D endogenous growt h). The paper suggests not only that capital accumulation and innovation ar e complementary processes, neither of which would take place in the long ru n without the other, but also that this process can be self-sustaining eith er through Hicks-neutral knowledge spillovers without capital accumulation, or through Harrod-neutral knowledge spillovers with capital accumulation.