کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5095311 1376281 2007 20 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Self-fulfilling prophecies in the quality ladders economy
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Self-fulfilling prophecies in the quality ladders economy
چکیده انگلیسی
If R&D difficulty increases as it accumulates, as recent evidence suggests, then there is a value in the diversification of the aggregate R&D efforts over the whole range of industries in the economy. However, this paper proves that the quality ladders models allow for self-fulfilling prophecies to divert R&D from an arbitrary number of sectors, with potentially dramatic effects on the dynamics of industry structure and on the long-run aggregate growth performance. Moreover, in developing countries, perfect markets might allow stagnant monopolies to resist despite the removal of fundamental entry barriers to dynamic competition. This kind of coordination failure implies potentially strong effects of socio-cultural factors on growth and suggests a positive role for public R&D policy even in a framework of semi-exogenous growth.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Development Economics - Volume 84, Issue 1, September 2007, Pages 445-464
نویسندگان
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