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Innovation Heterogeneity And Schumpeterian Growth Models, Eduardo Pol, P. Carroll
Innovation Heterogeneity And Schumpeterian Growth Models, Eduardo Pol, P. Carroll
Faculty of Commerce - Papers (Archive)
Innovation heterogeneity refers to two empirical facts: economic sectors vary according to sources and rates of innovation, and innovations vary in terms of the magnitude of their economic impact. The central focus of this paper is the problem of scale effects in the Schumpeterian growth models. Although these models make endogenous the production of innovations, they assume not only an oversimplified pattern of sectoral innovation but also that major innovations are virtually indistinguishable from minor innovations. The main claim of the a er is that without a theoretical framework revolving around both the existence of realistic sectoral patterns of innovation …
Savings, Investment, Foreign Inflows And Economic Growth Of The Indian Economy 1950-2002, Reetu Verma, Edgar J. Wilson
Savings, Investment, Foreign Inflows And Economic Growth Of The Indian Economy 1950-2002, Reetu Verma, Edgar J. Wilson
Faculty of Commerce - Papers (Archive)
There is a large research literature on the roles of domestic savings and investment in promoting long run economic growth. This paper attempts to identiy the major interdependencies between savings, investment, foreign capital flows and real output for India since independence. An endogenous growth model of an open economy, with government, is adapted to specify the complicated theoretical interrelationships between sectors of a growing economy. The time series of real household, private corporate and public savings; private and public investment; foreign capital inflows and GDP are tested for stationary under structural change. Empirical estimation of the possible long run and …