A theory of development and long run growth

Abstract

This paper presents a synthesized theory of development and long run growth. The theory that is presented combines two engines of growth which have been emphasized in the literature: technological progress and human capital accumulation. In the model, the growth rate of per capita output depends in part on the interaction between these two types of economic forces. D

Formal education and public knowledge

“…Here, I go one step further and allow the education sector to benefit directly from the knowledge generated by the innovation sector. 7 Kosempel (2004) also links long-run stylized facts with features of the transitional dynamics of a growth model with two engines of growth. Still, in Kosempel (2004) the saving rate is exogenous and firms allocate a fixed fraction of output to research and development, whereas in my economy both variables are included in the list of choice variables.…”

“…7 Kosempel (2004) also links long-run stylized facts with features of the transitional dynamics of a growth model with two engines of growth. Still, in Kosempel (2004) the saving rate is exogenous and firms allocate a fixed fraction of output to research and development, whereas in my economy both variables are included in the list of choice variables. Enlarging the set of choices in this direction allows me to highlight a substitution effect between innovation and education times, and to see the response of the interest rate to changes in preferences and to technological shocks.…”

A note on the non-convexity problem in some shopping-time and human-capital models

“…doi:10. 1016/j.jbankfin.2005.10.004 Caballe and Santos, 1993;Chari et al, 1995;Ladron-de-Guevara et al, 1999;Kosempel, forthcoming) 2 use first-order conditions in dynamic optimization to directly characterize necessity, but not sufficiency, in intertemporal problems.…”

Flujo internacional de conocimientos y productividad: un estudio de la industria manufacturera en México 1999-2012

“…En el centro de la teoría endógena del crecimiento se distinguen dos vertientes de análisis (Kosempel, 2003): 1) modelos basados en la acumulación de capital humano (Arrow, 1962;Romer, 1986;Lucas, 1988) y, 2) modelos basados en la acumulación de conocimientos (Romer, 1990; Grossman y Helpman, 1991 cap 5). El argumento subyacente en ambas familias es que tanto el capital humano como el gasto en I + D constituyen las fuentes inmediatas del crecimiento, ya que éstos contribuyen directamente sobre la evolución del progreso tecnológico.…”