Endogenous Growth: Knowledge and Institutions
Oscar A Benavides
Universidad Externado de Colombia - Department of Economics
Universidad de los Andes, Colombia
Revista de Economia Institucional, Vol. 4, No. 6, 2002
This document develops an endogenous growth model in which it is possible to obtain a positive long run growth rate by combining investment in human capital and the endogenous advance of technological knowledge. The model shows the complementary characteristics of the two kinds of knowledge and implies the abandonment of the competitive equilibrium model because of the non-rival nature of technological knowledge. The model also shows the presence of multiple equilibria and the requirement of a central planner for some of them.
Note: The Downloadable document is in Spanish.
Number of Pages in PDF File: 23
Keywords: Endogenous growth, human capital, technological knowledge, competence, multiple equilibrium
JEL Classification: E22, O15, O32, O49
Date posted: May 2, 2005