The origins of endogenous growth

Policy‐induced Innovation in Sub‐Saharan African Agriculture: A Multilateral Malmquist Productivity Index Approach

“…To impose some order, it is helpful to consider three common explanations of differences in growth rates. These are: (i) differences in starting values, which should have explanatory power if there is convergence (the convergence controversy is discussed in Romer, 1994); (ii) differences in factor ratios, which would be the key explanatory variable under Hayami and Ruttan's induced innovation hypothesis? and (iii) differences in policy, which the long-run growth literature has tended to neglect (Mosley, 1992).…”

Corporate Productivity Growth: Champions, Leaders, and Laggards

“…Endogenous growth theory regards innovative activity as the central engine of growth (Grossmann and Helpman 1994;Romer 1990Romer , 1994, and it certainly seems plausible to believe that a firm that sustains a high rate of innovation ought to also experience a high level of productivity growth. Despite a certain amount of skepticism of the empirical validity of endogenous growth models in general (Pack 1994), innovation indeed seems to be an important determinant of corporate productivity growth (Geroski 1989(Geroski , 1991.…”

A Survey of Economic Growth

“…The Ôknife edgeÕ property of the n ¼ 1 assumption is common to many endogenous growth models (see Solow 1994;Romer 1994). Romer (1990) has a similar equation for the accumulation of ÔdesignsÕ that are used to produce new goods (this is dA/dt ¼ dh a A, where h a is the human capital devoted to research and development (R & D) activity, with the implicit exponent on A equal to 1).…”

“…The goods come into existence through the process of innovation or R & D, with the incentive to undertake R & D derived from the expected future monopoly profits. In equilibrium, assuming free entry, competition between firms equates the expected monopoly profits to the 13 Reviews are contained in Romer (1994), Pack (1994), Jones and Manuelli (1997) and Aghion and Howitt (1998) among others. fixed costs of innovating.…”