Endogenous Recombinant Growth

  title={Endogenous Recombinant Growth},
  author={Yacov Tsur and Amos Zemel},
We extend Weitzman’s (1998) recombinant growth framework to include endogenous R&D decisions. The analysis is carried out in the (knowledgecapital) state space by means of two characteristic curves: one is identified as a turnpike along which growing economies evolve; the other attracts stagnating economies. Sustained growth depends on a condition relating the slopes of the characteristic curves as well as on a minimal endowment requirement. A growing economy reaches the turnpike at a most… CONTINUE READING

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