Knowledge Codification and Endogenous Growth

CER-ETH Working Paper No. 07/65

48 Pages Posted: 5 Apr 2007

Date Written: February 2007

Abstract

The usual models of endogenous growth treat knowledge codification as a byproduct of R&D and as costless. In contrast to this, one can observe great efforts of private firms for the purposeful codification of knowledge. We incorporate costly knowledge codification in an overlapping generations framework of endogenous growth and show that the steady-state growth rate of capital being higher than that of the knowledge stock is a sufficient condition for knowledge codification. With decreasing codification costs, every overlapping generations economy will be codifying in the long run if the rate at which the costs decline is higher than or equal to the steady-state growth rate of knowledge.

Keywords: Knowledge, Human Capital, Knowledge Codification, Economic Growth

JEL Classification: O11, O30, O41

Suggested Citation

Schneider, Maik T., Knowledge Codification and Endogenous Growth (February 2007). CER-ETH Working Paper No. 07/65. Available at SSRN: https://ssrn.com/abstract=977901 or http://dx.doi.org/10.2139/ssrn.977901

Maik T. Schneider (Contact Author)

University of Bath ( email )

Claverton Down
Bath, BA2 7AY
United Kingdom

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