Semi-endogenous versus Schumpeterian growth models: testing the knowledge production function using international data |
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Authors: | Jakob B Madsen |
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Institution: | (1) Department of Economics, Monash University, P.O. Box 197, Caulfield East, VIC, 3145, Australia;(2) EPRU and FRU, Department of Economics, University of Copenhagen, Studiestrade 6, 1455 Copenhagen K, Denmark |
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Abstract: | Using various indicators of innovative activity and product variety in the OECD countries over the past century, this paper
tests first- and second-generation models of economic growth. The estimation results give evidence in favour of Schumpeterian
models, while the semi-endogenous growth theories are shown not to be consistent with the data.
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Keywords: | Schumpeterian growth theory Semi-endogenous growth theory |
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