Bucci, Alberto (2005) Monopoly power in human capital-based growth. Acta Oeconomica, 55 (2). pp. 121-150. ISSN 0001-6373
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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.
| Item Type: | Article |
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| Subjects: | H Social Sciences / társadalomtudományok > H Social Sciences (General) / társadalomtudomány általában |
| Depositing User: | xKatalin xBarta |
| Date Deposited: | 18 Jan 2017 09:33 |
| Last Modified: | 31 Jul 2025 23:15 |
| URI: | https://real.mtak.hu/id/eprint/45716 |
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