Reexamining the interaction between innovation and capital accumulation

Zeng, Jinli

doi:10.1016/j.jmacro.2002.06.001

Cited by 27 publications

(17 citation statements)

References 36 publications

(68 reference statements)

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“…4 Early studies in this literature do not consider human capital accumulation. More recent studies, such as Eicher (1996), Zeng (1997Zeng ( , 2003, Strulik (2005Strulik ( , 2007 (2016) and Prettner and Strulik (2016), explore human capital accumulation and its interaction with endogenous technological progress in the R&D-based growth model. However, these studies either do not explore the e¤ects of parental preference for education or they …nd an unambiguously positive e¤ect of education preference on growth.…”

Section: Introductionmentioning

confidence: 99%

Growth and parental preference for education in China

Chu

Furukawa

Zhu

2016

Journal of Macroeconomics

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This study explores the implications of parental preference for education in an innovationdriven growth model that features an interaction between endogenous technological progress and human capital accumulation. Parents invest in children's education partly due to the preference for their children to be educated. We consider a preference parameter that measures the degree of this parental preference for education. We …nd that a society such as China in which parents place a high value on education accumulates more human capital, which is conducive to innovation, but the larger education investment also crowds out resources for R&D investment. As a result, a stronger parental preference for education has an inverted-U e¤ect on the steady-state equilibrium growth rate due to the presence of both positive and negative e¤ects. We also analytically derive the complete transitional path of the equilibrium growth rate and …nd that an increase in the degree of education preference causes an initial negative e¤ect on growth. Furthermore, we explore the robustness of our results in a scale-invariant extension of the model and …nd that although the crowding-out e¤ect of education preference gradually disappears in the long run, it continues to exert a negative e¤ect on the transitional growth rate. Therefore, a society that has a stronger preference for education would have a lower initial growth rate but also a higher long-run growth rate.JEL classi…cation: O30, O40

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Section: Introductionmentioning

confidence: 99%

Growth and parental preference for education in China

Chu

Furukawa

Zhu

2016

Journal of Macroeconomics

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“…Segerstrom et al (1990) and Grossman and Helpman (1991) study the patent-race paradigm in a dynamic general-equilibrium setting and provide a theory of repeated quality innovations. Recently, Zeng (2003) and Strulik (2007) have also addressed the quality differentiation of intermediate goods within endogenous growth models. Recently, Zeng (2003) and Strulik (2007) have also addressed the quality differentiation of intermediate goods within endogenous growth models.…”

Section: Related Literaturementioning

confidence: 99%

The Quality of Intermediate Goods: Growth and Welfare Implications

Cheng

Chang

2017

Economic Record

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TaiwanThis paper explores the implications of the quality of intermediate goods in an endogenous growth model. We show that a trade-off exists between the quality and the variety of products, which creates a wedge between the market-equilibrium quality and the socially optimal quality. Relative to the social optimum, the equilibrium quality could be either under-supplied or over-supplied, depending on the productivity-enhancing effect as well as the increasing returns to production specialisation and business-stealing effects. ) estimates an annual quality growth for durables of about 5 per cent since 1988.The importance of quality growth as a component of GDP growth seems to have increased over time. 2 It was shown using the EU KLEMS Database in 2007 that during the period 1970-2004 this share lay between 0.4 and 0.6

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“…Competitive edge requires not only producing a quality product efficiently, in most organizations it also requires innovation (Cowan & Jonard, 2001a;Fischer, 2001;Marsili, 2000;Zeng, 2003), developing new products or new systems seen by customers and other stakeholders to be more attractive than existing ones. This is particularly the case for relatively new industries, such as information technology, communications and new media, but applies across the board.…”

Section: Older Workers and Organizational Renewalmentioning

confidence: 99%

Role ambiguity: Older workers in the demographic transition

Ranzijn

2004

Ageing Int.

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This paper presents recent empirical evidence to support the argument that policies designed to increase workforce participation of older workers have been unsuccessful because they have not recognized the contradictory attitudes towards older workers of employers, government, and older workers themselves. Qualitative and quantitative research with Australian employers, employees, and older job seekers were used to test two hypotheses, about the low success rate of mature-aged job seekers and about the worth of older workers with regards to the work-related attributes required in the new world of work. It was concluded that currently employed older workers are valued for their task-and organization-specific skills which, however, count for little when competing for a new job. The paper concludes by suggesting that a radical change in attitudes towards the training and trainability of older workers is required of all parties. A strong emphasis on training should be a cornerstone of policies aimed at increasing mature-aged workforce participation, which will be increasingly essential in coming decades.The aims of this paper are twofold. The first aim is to present empirical evidence to support the argument that the differential goals and expectations of employers, government, and older workers themselves have created ambivalent attitudes to older workers which militate against their retention in the workforce. The second aim is to suggest a solution based on the changing attitudes towards the training and trainability of older workers.

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Reexamining the interaction between innovation and capital accumulation

Cited by 27 publications

References 36 publications

Growth and parental preference for education in China

Growth and parental preference for education in China

The Quality of Intermediate Goods: Growth and Welfare Implications

Role ambiguity: Older workers in the demographic transition

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