On the policy implications of endogenous technological progress

• 成果类型: Article
• 署名作者: Li, CW
• 署名单位: University of Glasgow
• 刊物名称: ECONOMIC JOURNAL
• ISSN/ISSBN: 0013-0133
• DOI: 10.1111/1468-0297.00626
• 发表日期: 2001
• 页码: C164-C179
• 关键词: research-and-development; GROWTH; too

摘要

One of the most well-known empirical regularities ill the R&D-productivity literature is the existence of substantial under-investment in R&D. This strongly suggests that government should actively promote research activities. However, the so-called 'quality-ladders' models of endogenous technological progress are inconsistent with this observation. III all extreme case, Grossman and Helpman (1991, Ch.4) suggest that R&D should always be taxed irrespective of the size of quality improvement. This paper attempts to reconcile these empirical and theoretical findings by showing that the normative results of Grossman and Helpman are not robust.