|
|||||
|
|
Phases of imitation and innovation in a North-South endogenous growth model |
|
| Authors: | Currie, D Levine, P Pearlman, J Chui, M |
| Affiliation: | z London Business School, London, UK CEPR y Department of Economics, University of Surrey, Guildford, Surrey GU12 5XH, UK w London Guildhall University, London, UK London Business School, London, UK x London Business School, London, UK |
| Abstract: | A North-South endogenous growth model is developed to examinethree phases of Southern development: imitation of Northernproducts, imitation and innovation, and innovation only. Weshow that the three phases exist as possible equilibria whichdepend on knowledge spillovers and the ease of imitation. Applyingthe model to analyse the impact of R&D subsidies, thereare some clear policy implications: (I) the welfare effectsof subsidies in both blocs depend crucially on the Southernphase; (ii) there are circumstances where the global benefitsfrom subsidies to the South are so substantial as to be Pareto-improvingeven when fully financed by the North. |
| Keywords: | |
| 本文献已被 Oxford 等数据库收录！ | |