Monopoly power in human capital-based growth

Bucci, Alberto (2005) Monopoly power in human capital-based growth. Acta Oeconomica, 55 (2). pp. 121-150. ISSN 0001-6373

Text aoecon.55.2005.2.1.pdf Restricted to Repository staff only until 31 July 2025. Download (554kB)

Abstract

Using a balanced growth model with human capital accumulation and R&D activity, this paper examines how imperfect competition in the product market affects economic growth and the sectoral distribution of skills in the long-run. We find that steady-state growth is driven only by incentives to acquire human capital and is independent of scale effects. In the model imperfect competition in the product market has a positive growth effect, while influencing the allocation of skills to different economic activities. High R&D investment is not necessarily associated with high output growth.

Actions (login required)

Edit Item