Public Research Spending in an Endogenous Growth Model

Konishi, Kunihiko

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論文情報

タイトル	Public Research Spending in an Endogenous Growth Model
著者	NRID 1000010077802 1000010077802 著者名 Konishi, Kunihiko
キーワード等	Public expenditure
	Endogenous growth
	Innovation
	Indeterminacy
抄録	This study constructs a variety expansion growth model with public research spending, in which public researchers raise the productivity of private R&D. We show that the relationship between public research spending and the growth rate follows an inverted U-shape.This is because public research spending increases private R&D productivity, but crowds out labor input to private R&D. It is also shown that the welfare-maximizing level of public research spending is below the growth-maximizing level. With regards to tax policy, a zero-profit tax maximizes both growth and welfare. Finally, the study analyzes the stability of the steady state, showing that the equilibrium is indeterminate when the government’srevenue source depends on asset income tax.
出版者	Graduate School of Economics and Osaka School of International Public Policy (OSIPP), Osaka University
収録物名	Discussion Papers In Economics And Business
巻(号)	13-26
ページ	1-22
刊行年月	2013-10
言語	英語
ハンドルURL	https://hdl.handle.net/11094/26167
NCID	AA1160366X
関連情報 (references)	URI http://www2.econ.osaka-u.ac.jp/library/global/dp/1326.pdf
アクセス権	metadata only access
カテゴリ	ディスカッション／ワーキング・ペーパー DP/WP
カテゴリ	Discussion Papers In Economics And Business

資源タイプ	テクニカルレポート
ローカル資源タイプ	ディスカッション／ワーキング・ペーパー
DCMI資源タイプ	text
DCTERMS.bibliographicCitation	Discussion Papers In Economics And Business. 2013, 13-26, p. 1-22
DC.title	Public Research Spending in an Endogenous Growth Model
DC.creator	Konishi, Kunihiko
DC.publisher	Graduate School of Economics and Osaka School of International Public Policy (OSIPP), Osaka University
DC.language' scheme='DCTERMS.RFC1766	英語
DC.type' scheme='DCTERMS.DCMIType	text
DCTERMS.issued' scheme='DCTERMS.W3CDTF	2013-10
DC.relation' scheme='DCTERMS.URI	http://www2.econ.osaka-u.ac.jp/library/global/dp/1326.pdf
DC.subject	Public expenditure
	Endogenous growth
	Innovation
	Indeterminacy
DCTERMS.abstract	This study constructs a variety expansion growth model with public research spending, in which public researchers raise the productivity of private R&D. We show that the relationship between public research spending and the growth rate follows an inverted U-shape.This is because public research spending increases private R&D productivity, but crowds out labor input to private R&D. It is also shown that the welfare-maximizing level of public research spending is below the growth-maximizing level. With regards to tax policy, a zero-profit tax maximizes both growth and welfare. Finally, the study analyzes the stability of the steady state, showing that the equilibrium is indeterminate when the government’srevenue source depends on asset income tax.
citation_title	Public Research Spending in an Endogenous Growth Model
citation_author	Konishi, Kunihiko
citation_publisher	Graduate School of Economics and Osaka School of International Public Policy (OSIPP), Osaka University
citation_language	英語
citation_date	2013-10
citation_journal_title	Discussion Papers In Economics And Business
citation_volume	13-26
citation_firstpage	1
citation_lastpage	22
citation_public_url	https://hdl.handle.net/11094/26167
citation_abstract_html_url	http://www2.econ.osaka-u.ac.jp/library/global/dp/1326.pdf

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