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Endogenous Growth: Knowledge and Institutions

Revista de Economia Institucional, Vol. 4, No. 6, 2002

23 Pages Posted: 2 May 2005  

Oscar A Benavides

Universidad Externado de Colombia - Department of Economics

Clemente Forero

Universidad de los Andes, Colombia

Abstract

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.

Notes: The Downloadable document is in Spanish.

Keywords: Endogenous growth, human capital, technological knowledge, competence, multiple equilibrium

JEL Classification: E22, O15, O32, O49

Suggested Citation

Benavides, Oscar A and Forero, Clemente, Endogenous Growth: Knowledge and Institutions. Revista de Economia Institucional, Vol. 4, No. 6, 2002. Available at SSRN: https://ssrn.com/abstract=704625

Oscar A Benavides (Contact Author)

Universidad Externado de Colombia - Department of Economics ( email )

Bogota D.C
Colombia

Clemente Forero

Universidad de los Andes, Colombia ( email )

Carrera Primera # 18A-12
Bogota, D.C. 110311
Colombia

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