Working Paper #2019-025
Semi-endogenous growth models with domestic and foreign private and public R&D linked to VECMs
We present semi-endogenous growth models with total-factor productivity
as functions of domestic and foreign private and public R&D. In a small
country case with a Cobb-Douglas TFP production function, foreign R&D
drives steady-state growth and the production function can be a
long-term relation in a vector-error-correction model. Marginal
productivity conditions can be long-term relations for a
vector-error-correction model if the functional form is of a
Cobb-Douglas type or a CES function generalised to a VES function. In
case of a VES function, steady states exist only for special cases of
parameter restrictions.
- Keywords
-
- Productivity
- endogenous (un)balanced growth
- public R&D expenditure
- foreign spillover
- JEL codes
-
- O38
- O40
- O41
- H54
- H87
Cite this as
APA 7th ed.Ziesemer, T. (2019). Semi-endogenous growth models with domestic and foreign private and public R&D linked to VECMs (UNU-MERIT Working Paper No. 2019-025). UNU-MERIT. https://unu-merit.nl/publications/working-papers/abstract/?id=8302