R&D Capital: An engine of Growth

• Autorzy: Jakub Growiec
• Języki publikacji: EN

Abstrakty

EN

Research and development (R&D) requires not only skilled research work, but also dedicated machinery and equipment: R&D capital. In this paper I demonstrate that R&D, producing labor-augmenting ideas, and the accumulation of R&D capital can form a dual engine of economic growth. With R&D capital, balanced growth can be sustained even under decreasing returns and in the absence of population growth. This result contributes to the long-lasting debate on endogenous vs. semi-endogenous R&D-based growth and the likelihood of an upcoming secular stagnation.

Słowa kluczowe

EN

Research & Development (R+D); Economic growth; Long-term balance; Economic stagnation; Technological change; Long-run economic growth

PL

Badania i rozwój (B+R); Wzrost gospodarczy; Równowaga długookresowa; Stagnacja gospodarcza; Zmiany technologiczne; Długookresowy wzrost gospodarczy

• Czasopismo: Collegium of Economic Analysis SGH - Working Papers
• Rocznik: 2022
• Numer: nr 77
• Strony: 10

Twórcy

autor

Jakub Growiec

• SGH Warsaw School of Economics

Bibliografia

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Identyfikatory

DOI

https://cor.sgh.waw.pl/bitstream/handle/20.500.12182/1135/WPKAE_2022_077.pdf?sequence=2&isAllowed=y