Education and innovation as twin-engines of growth

DSpace Repository


Dateien:

URI: http://nbn-resolving.de/urn:nbn:de:bsz:21-opus-24361
http://hdl.handle.net/10900/47507
Dokumentart: ResearchPaper
Date: 2006
Language: English
Faculty: 6 Wirtschafts- und Sozialwissenschaftliche Fakultät
Department: Wirtschaftswissenschaften
DDC Classifikation: 330 - Economics
Keywords: Bildung , Innovation
Other Keywords:
Education , quality and variety innovation , scale-invariant growth
License: Publishing license excluding print on demand
Show full item record

Abstract:

We develop a dynamic general equilibrium model of education, quality and variety innovation, and scale-invariant growth. The early endogenous innovation-based growth models incorporate a scale effect predicting that larger economies are characterized by higher per capita growth rates. Recent models of semi-endogenous growth remove this scale effect but instead imply that economic growth depends proportionally on population growth. In contrast to the predecessor models, this paper argues that endogenous human-capital accumulation rather than an exogenously given continuing increase of the population is decisive for per capita growth. The consequence of the proposed integration of human capital accumulation into a two-R&D-sector model of quality and variety innovation is that education and innovation appear as twin-engines of growth and that steady state growth rates can be enhanced by subsidizing education.

This item appears in the following Collection(s)