کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
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986525 | 1480823 | 2011 | 21 صفحه PDF | دانلود رایگان |
What factors underlie industry differences in research intensity and productivity growth? We develop a multi-sector endogenous growth model allowing for industry-specific parameters in the production functions for output and knowledge, and in consumer preferences. We find that long run industry differences in both productivity growth and R&D intensity mainly reflect differences in “technological opportunities”, interpreted as the parameters of knowledge production. These include the capital intensity of R&D, knowledge spillovers, and diminishing returns to R&D. To investigate the quantitative importance of these factors, we calibrate the model using US industry data. We find that diminishing returns to research activity is the dominant factor.
Journal: Review of Economic Dynamics - Volume 14, Issue 3, July 2011, Pages 475–495