R D Imperfect Competition And Growth With Human Capital Accumulation PDF Download
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Author | : |
Publisher | : |
Total Pages | : |
Release | : 2003 |
Genre | : |
ISBN | : |
Download R & D, Imperfect Competition and Growth with Human Capital Accumulation Book in PDF, ePub and Kindle
Author | : Dietmar Hornung |
Publisher | : Springer Science & Business Media |
Total Pages | : 255 |
Release | : 2013-06-29 |
Genre | : Business & Economics |
ISBN | : 3642517188 |
Download Investment, R&D, and Long-Run Growth Book in PDF, ePub and Kindle
In the 1990s, growth theory has incorporated imperfect competition in its investigations. This innovation has proven to be seminal: Cleviating from growth models with perfect competition, the new framework featured forward looking entrepreneurs. Firms maximize profits intertemporarily, i. e. their in vestment leads to instantaneous sunk costs and offers flows of future profits. Firms finance this investment by launching shares. The capital market is per fectly competitive, implying that the return on a share is equal to the return on a bond. As opposed to the capital market, the goods market is imperfectly competitive. As a result of investment, firms enjoy market power. That is, firms may acquire the capability to provide a product that is differentiated in, e. g. , styling, technology, accessibility, or reputation. The launch of a dif ferentiated product allows to capture a market niche, and successful firms may price above marginal cost. The resulting profit flows are channelled to the firms' shareholders. The introduction of monopolistic competition into growth theory is valuable: real world economies may be portrayed rather by such an imperfect competition framework than by a perfect competition approach. Starting with Romer (1990), in growth theory, modeling of imperfect competition has been notoriously bound to a focus on the impact of research and development (R&D) on economic growth. In the existing literature, growth-affecting investment is restricted to R&D investment.
Author | : Alberto Bucci |
Publisher | : |
Total Pages | : 28 |
Release | : 2002 |
Genre | : |
ISBN | : |
Download When Romer Meets Lucas Book in PDF, ePub and Kindle
Author | : L. Paganetto |
Publisher | : Springer |
Total Pages | : 215 |
Release | : 2003-01-31 |
Genre | : Business & Economics |
ISBN | : 1403920230 |
Download Finance, Research, Education and Growth Book in PDF, ePub and Kindle
A crucial issue in the era of globalisation and internationalization, is whether the relationship between investment and finance is beneficial to growth and development. Received wisdom is that Research and Development is essential not only for maintaining productivity, but also for competing in the marketplace. Similar questions have been raised about education and its rate of 'social return; is education necessary for improving the skill of the workforce, or does it serve primarily to facilitate the adoption of these new technologies? This book brings together a case of leading international scholars to analyze the importance of education, research and human capital and the impact of financial systems on growth and development.
Author | : Paul Michael Romer |
Publisher | : |
Total Pages | : 60 |
Release | : 1989 |
Genre | : Economic development |
ISBN | : |
Download Increasing Returns and New Developments in the Theory of Growth Book in PDF, ePub and Kindle
From the beginning, growth theory has been faced with technically challenging questions about increasing returns and the way to capture ideas in a model of market exchange. Initially, reliance on perfect competition forced growth theory to narrow its scope. Recently, new tools for studying dynamic equilibria with nonconvexities, externalities, and imperfect competition have allowed growth theory to address broader questions like: Why have growth rates tended to increase over time? Why is it that flows of capital are not sufficient to equalize wages in different countries? How is it that trade policy, or aggregate research and development expenditure, or the extent of patent protection influences the rate of growth?
Author | : Julio Rotemberg |
Publisher | : Forgotten Books |
Total Pages | : 46 |
Release | : 2018-02-28 |
Genre | : Business & Economics |
ISBN | : 9780267112173 |
Download Competition and Human Capital Accumulation Book in PDF, ePub and Kindle
Excerpt from Competition and Human Capital Accumulation: A Theory of Interregional Specialization and Trade Marshall (1920) posits instead that the external economies arise from proximity to specialized inputs. As noted by Helpman and Krugman unless there is a natural comparative advantage for the production of these inputs in the region, this explanation is incomplete. The puzzle is simply rolled back to the previous production stage: Why do the producers of inputs locate in the region? Our theory is that the location decisions of the firms and their input suppliers are interdependent. Input suppliers find it advantageous to be located where they have several potential customers because competition among their downstream customers assures them a fair return. In the absence of such competition, the relatively immobile suppliers would be subject to the monopsony power of the downstream firms. Foreseeing that monopsony power would be used to drive down input prices, potential input suppliers would not choose to invest ex ante in the accumulation of the capital necessary to supply the inputs efficiently. This critical role of competition in securing a return to suppliers is one of the elements in Porter's (1989) broad treatise on regional agglomeration. For concreteness, the particular input we focus on is industry specific human capital which is costly for individuals to acquire, such as the specific hand-eye coordination needed to cut diamonds or the skills which facilitate the creation of a new chocolate concoction. If trained workers can choose among several potential employers, they will be paid as a function of their marginal product. By contrast, if there is only one potential employer, and it is impossible to write contracts that specify the level of training, there is no reason for this monopsonist to pay trained employees any more than untrained employees earn (in this industry or elsewhere). The hold-up problem described by Williamson (1975) arises. Confronted with the prospect of a single potential employer, workers do not find it worthwhile to accumulate human capital. Moreover, if entry by firms is costly, firms will themselves refrain from entering if they can expect to be the only firm in the industry. The industry can only exist with several closely located competitors. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Author | : Miguel Angel Santos |
Publisher | : Cambridge University Press |
Total Pages | : 72 |
Release | : 2021-12-16 |
Genre | : Business & Economics |
ISBN | : 110898231X |
Download Diagnosing Human Capital as a Binding Constraint to Growth Book in PDF, ePub and Kindle
The empirical literature on the contributions of human capital investments to economic growth shows mixed results. While evidence from OECD countries demonstrates that human capital accumulation is associated with growth accelerations, the substantial efforts of developing countries to improve access to and quality of education, as a means for skill accumulation, did not translate into higher income per capita. In this Element, we propose a framework, building on the principles of 'growth diagnostics', to enable practitioners to determine whether human capital investments are a priority for a country's growth strategy. We then discuss and exemplify different tests to diagnose human capital in a place, drawing on the Harvard Growth Lab's experience in different development context, and discuss various policy options to address skill shortages.
Author | : Oded Galor |
Publisher | : |
Total Pages | : 54 |
Release | : 1999 |
Genre | : Economic development |
ISBN | : |
Download From Physical to Human Capital Accumulation Book in PDF, ePub and Kindle
Author | : Ummer Eriyattukuzhiyil |
Publisher | : |
Total Pages | : 278 |
Release | : 2002 |
Genre | : |
ISBN | : |
Download Human Capital Accumulation and Economic Growth Book in PDF, ePub and Kindle
Author | : Julio Rotemberg |
Publisher | : Palala Press |
Total Pages | : 54 |
Release | : 2015-09-04 |
Genre | : |
ISBN | : 9781341527944 |
Download Competition and Human Capital Accumulation Book in PDF, ePub and Kindle
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