Academic
Publications
Accounting for Trends in Productivity and R&D: A Schumpeterian Critique of Semi-Endogenous Growth Theory

Accounting for Trends in Productivity and R&D: A Schumpeterian Critique of Semi-Endogenous Growth Theory,10.1111/j.1538-4616.2007.00045.x,Journal of M

Accounting for Trends in Productivity and R&D: A Schumpeterian Critique of Semi-Endogenous Growth Theory   (Citations: 58)
BibTex | RIS | RefWorks Download
This paper argues that long-run trends in R&D and TFP are more supportive of fully endogenous "Schumpeterian" growth theory than they are of semi-endogenous growth theory. The distinctive prediction of semi-endogenous theory that sustained TFP growth requires sustained growth of R&D input is not supported by co-integration tests and forecasting exercises, as TFP growth has been stationary even though the growth rate of R&D input has fallen three-fold since the early 1950s. In contrast, the prediction of Schumpeterian theory that sustained TFP growth requires a sustained fraction of GDP to be spent on R&D is not contradicted by similar tests. Copyright 2007 The Ohio State University.
Journal: Journal of Money Credit and Banking - J MONEY CREDIT BANKING , vol. 39, no. 4, pp. 733-774, 2007
Cumulative Annual
View Publication
The following links allow you to view full publications. These links are maintained by other sources not affiliated with Microsoft Academic Search.
Sort by: