Endogenous Innovation in the Theory of Growth

Journal of Economic Perspectives, 1994, vol. 8, issue 1, 23-44

Abstract: This paper makes the case that purposive, profit-seeking investments in knowledge play a critical role in the long-run growth process. First, the authors review the implications of neoclassical growth theory and the more recent theories of 'endogenous growth.' Then they discuss the empirical evidence that bears on the modeling of long-run growth. Finally, the authors describe in more detail a model of growth based on endogenous technological progress and discuss the lessons that such models can teach us.

JEL-codes: O31 O40 (search for similar items in EconPapers)
Date: 1994
Note: DOI: 10.1257/jep.8.1.23
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Citations: View citations in EconPapers (519)

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Related works:
Working Paper: Endogenous Innovation in the Theory of Growth (1993)
Working Paper: Endogenous, Innovation in the Theory of Growth (1993)
Working Paper: Endogenous Innovation in the Theory of Growth (1993)
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