R&D subsidies and economic growth

• 成果类型: Article
• 署名作者: Davidson, C; Segerstrom, P
• 署名单位: Michigan State University
• 刊物名称: RAND JOURNAL OF ECONOMICS
• ISSN/ISSBN: 0741-6261
• DOI: 10.2307/2556104
• 发表日期: 1998
• 页码: 548-577
• 关键词: quality ladders; imitation; MODEL

摘要

We present an endogenous growth model in which some firms devote resources to ner eloping higher-quality products (innovative R&D) and other firms devote resources to copying these products (imitative R&D). Although consumers benefit from the knowledge created by both types of R&D activities, only innovative R&D subsidies lead to faster economic growth; imitative R&D subsidies actually lead to slot-ver economic growth. A key assumption driving these conclusions is that R&D activities are subject to decreasing rearms. When R&D activities are subject to constant returns, as is commonly assumed, the only equilibrium with both innovation and imitation is unstable.