GROWTH AND FIRM DYNAMICS WITH HORIZONTAL AND VERTICAL R&D

• Tipo: Artigo em Revista Científica Internacional
• Data: 2013

Autores

gil, pm (Autor) FEP; brito, p (Autor) Outra; afonso, o (Autor) FEP

Revista

Título: Macroeconomic Dynamics

Vol. 17

Páginas: 1438-1466

ISSN: 1365-1005

Editora: Cambridge University Press

Indexação

ISI Web of Knowledge - 19 Citações

Scopus - 20 Citações

Classificação Científica

FOS: Ciências sociais > Economia e gestão

Outras Informações

ID Authenticus: P-006-70A

DOI: 10.1017/s1365100512000181

Abstract (EN): A negative or nonsignificant empirical correlation between aggregate R&D intensity and the economic growth rate is a well-known fact in the empirical growth literature, but scarcely addressed in the theoretical growth literature. This paper develops an endogenous-growth model that explores the interrelation between horizontal and vertical R&D under a lab-equipment specification that is consistent with that stylized fact. A key feature is that the growth rate is fully endogenous both on the intensive and on the extensive margin. Strong composition effects between horizontal and vertical R&D, along both transition and the balanced-growth path, then emerge as the main mechanism producing those results. This setting also allows us to obtain a relationship between economic growth and firm dynamics that is consistent with the empirical facts.

Idioma: Inglês

Tipo (Avaliação Docente): Científica

Nº de páginas: 29