Scale effects in Schumpeterian models of economic growth |
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Authors: | Elias Dinopoulos Peter Thompson |
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Institution: | (1) Department of Economics, University of Florida, Gainesville, FL 32611, USA, US;(2) Department of Economics, University of Houston, Houston, TX 77204–5882, USA, US |
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Abstract: | Early models of Schumpeterian growth incorporate scale effects predicting that large economies grow faster than small economies,
and that population growth causes accelerating per capita income growth. An absence of clear empirical evidence for these
scale effects has led some researchers to question the foundations underlying the Schumpeterian approach to growth. This paper
reviews empirical evidence on the relationship between scale and growth, and recent attempts to construct Schumpeterian growth
models without scale effects. |
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Keywords: | : Economic growth R& D Scale effects |
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