Knowledge Misallocation and Growth

Raurich, Xavier; Sánchez-Losada, Fernando; Vilalta-Bufí, Montserrat

doi:10.1017/s136510051300093x

Cited by 6 publications

(5 citation statements)

References 53 publications

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“…However, it could also be due to the fact that knowledge might be more industry oriented (although it can be used in other sectors). Thus, the profitability of one firm's R&D for all other firms would depend on the sector in which the other firms operate (as in Raurich et al ., ).…”

Section: Randd‐variety Growth Models and Scale Effectsmentioning

confidence: 97%

How Important Are Scale Effects for Growth When Knowledge Is a Public Good?

Sánchez-Losada

2019

Scandinavian J Economics

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In this paper, by proposing an R&D accumulation law for an economy with an expanding number of firms, I seek to reconcile the following three facts: the positive relationship between the fraction of income allocated to R&D expenditure and growth; the positive relationship between the number of firms and total factor productivity growth; and knowledge as a non-rival and non-excludable good. There are scale effects because of the public nature of knowledge, but the economy also grows in the absence of population growth. I find that population growth explains one-fifth of market income growth but only one-sixteenth of efficient income growth.

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Section: Randd‐variety Growth Models and Scale Effectsmentioning

confidence: 97%

How Important Are Scale Effects for Growth When Knowledge Is a Public Good?

Sánchez-Losada

2019

Scandinavian J Economics

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“…It is through creative destruction that new generations of technology replace the previous ones; in the current paper, this creative destruction exists, leaving behind those who cannot adapt to the use of new techniques. Technological obsolescence may be, as well, associated with the extent in which knowledge is misallocated [Raurich et al (2015)].…”

Section: Technological Obsolescencementioning

confidence: 99%

Time Allocation, the Dynamics of Interaction, and Technology Adoption

Gomes

2017

Macroecon. Dynam.

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Inspired by recent literature that approaches the dissemination of knowledge from a social interaction perspective, the article explores the dynamics of a prototypical optimal control growth problem structured upon the following features: (i) the model economy is populated by a large number of rational agents; (ii) each agent allocates time, optimally, among production and social interaction; (iii) knowledge spreads through the contact with others; (iv) the propagation of ideas follows two steps—in a first stage, interaction promotes the acquisition of theoretical knowledge and, in a second stage, it works as a catalyst for the successful implementation of the theory to practical productive uses; (v) interaction contributes not only to the diffusion of a given state of technical knowledge—it fosters, as well, the growth of ideas and techniques. The model allows for the endogenous determination of optimal trajectories concerning the allocation of time and the intensity of interaction; moreover, a long-term endogenous growth rate for the economy is derived, with optimal growth being essentially driven by the state of techniques and by the forces that shape the human interaction process.

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“…As also found that increased labour mobility between foreign and local firms results in increased job creation by local firms [6]. Also, [7] while assuming constant returns to capital proved that labour mobility and growth works in the same direction. As labour mobility increases, growth increases.…”

Section: Introductionmentioning

confidence: 99%

Is Higher Education A Potential Means of Promoting Labour Mobility?

Minali¹,

Manju²

2018

Ijemr

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Background/Objectives: The Article supports the hypothesis that in the Globalised era, a country can develop by globalising its workforce. India is having the youngest population in the world and is continuously facing the challenge of educating its young population and preparing them to meet the Global competition. Its struggle to provide employment to its increasing workforce can be resolved by providing efficient education which will increase inter-regional and international student mobility and as a result will make the workforce more Globalised. Methods/Statistical analysis: Therefore the Article shows a strong positive relation between Education (preferably Higher Education), Student mobility and labour mobility and concludes that an increase in one of these factor results in an increase in the other two. Findings: Indian Higher education system is in its nascent stage where Gross enrolment ratio (GER) is low as compared to other developing countries like China. Ministry of Human resource development (MHRD) revealed that Gross enrolment ratio for higher education in India increased to 24.5 per cent in 2015-16. Improvements/Applications: NGOs, Government employees, teachers and educators can group together and educate people about Higher education. They can also inform students about importance of higher education for their career and society as whole and ways and means by which they can acquire one in India and abroad.

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Knowledge Misallocation and Growth

Cited by 6 publications

References 53 publications

How Important Are Scale Effects for Growth When Knowledge Is a Public Good?

How Important Are Scale Effects for Growth When Knowledge Is a Public Good?

Time Allocation, the Dynamics of Interaction, and Technology Adoption

Is Higher Education A Potential Means of Promoting Labour Mobility?

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