Human capital and overinvestment in R&D

被引：15
|
作者：
Reis, Ana Balcao [1 ]
Sequeira, Tiago Neves
机构：
[1] Nova Univ, P-1099032 Lisbon, Portugal
[2] Univ Beira Interior, P-6200 Covilha, Portugal
来源：
SCANDINAVIAN JOURNAL OF ECONOMICS | 2007年 / 109卷 / 03期
关键词：
human capital; optimal R&D; endogenous growth;
D O I：
10.1111/j.1467-9442.2007.00508.x
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We introduce a negative effect of technological development on human capital accumulation in a growth model with endogenous innovation and accumulation of human capital. This implies a negative externality of R&D in human capital accumulation. Some calibration exercises suggest that this distortion may be sufficiently strong not only to offset the usual effects of spillovers and of returns to specialization but also to induce overinvestment in R&D.
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页码：573 / 591
页数：19
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