文章基本信息

标题：Obsolescence and modernization in the growth process
本地全文：下载
作者：Raouf BOUCEKKINE ; Fernando DEL RIO ; Omar LICANDRO 等
期刊名称：CORE Discussion Papers / Center for Operations Research and Econometrics (UCL), Louvain
出版年度：2002
卷号：2002
出版社：Center for Operations Research and Econometrics (UCL), Louvain
摘要：In this paper, an endogenous growth model is built up incorporating Schumpete- rian growth and embodied technological progress. Under embodiment, long run growth is aﬀected by the following eﬀects: (i) obsolescence costs add to the user cost of capital, reducing the research eﬀort; and (ii) the modernization of capital through investment raises the incentives to undertake R&D activities. Applied to the understanding of the growth enhancing role of both capital and R&D subsidies, we conclude that the positive eﬀect of modernization generally more than compensate the negative eﬀect of obsolescence.
关键词：Shumpeterian growth, Creative destruction, Embodiment, Obsoles- cence, Modernization.