テクニカルレポート

ディスカッション／ワーキング・ペーパー

text

Discussion Papers In Economics And Business. 2013, 13-26, p. 1-22

Public Research Spending in an Endogenous Growth Model

Konishi, Kunihiko

Graduate School of Economics and Osaka School of International Public Policy (OSIPP), Osaka University

英語

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2013-10

http://www2.econ.osaka-u.ac.jp/library/global/dp/1326.pdf

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.

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Public Research Spending in an Endogenous Growth Model

Konishi, Kunihiko

Graduate School of Economics and Osaka School of International Public Policy (OSIPP), Osaka University

英語

2013-10

Discussion Papers In Economics And Business

13-26

1

22

https://hdl.handle.net/11094/26167

http://www2.econ.osaka-u.ac.jp/library/global/dp/1326.pdf