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Innovation economy, productive public expenditures and economic growth
Afonso, Óscar; Monteiro, Sara; Thompson, Maria João RibeiroInnovation is the main engine of growth in an increasing number of economies. Innovation economies are, according to the Quadruple Helix (QH) Innovation Theory, sustained by four pilars – Firms, Academia, Government and Consumers –, all operating in a systemic, interactive environment. We provide a model that gives analytical body to the QH theory and links formally innovation to economic growth. We aim to emph...
A growth model for the quadruple helix
Afonso, Óscar; Monteiro, Sara; Thompson, Maria João RibeiroWe develop a R&D-based growth model with productive public expenditure in order to frame the Quadruple Helix (QH) innovation concept, based on four helices: Academia & Technological Infraestructures, Firms, Government and Civil Society. Our motivation stems from acknowledgment that the relationship between these four helices and their joint impact on growth is in need of a theoretical framework. We aim to empha...
Costly investment, complementarities, international technological-knowledge dif...
Afonso, Óscar; Neves, Pedro; Thompson, Maria João RibeiroWe examine the behaviour of the skill premium in a two-country general equilibrium growth model assuming (i) technological-knowledge diffusion; (ii) internal costly investment in both physical capital and R&D; and (iii) complementarities between intermediate goods in production. We find that these three economic features affect the steady-state growth rate in both countries. However, only in the imitator countr...
A growth model for the quadruple helix innovation theory
Afonso, Óscar; Monteiro, Sara; Thompson, Maria João RibeiroWe propose a theoretical growth model with which to frame analytically the Quadruple Helix Innovation Theory (QHIT). The aim is to emphasise the investment in innovation transmission mechanisms in terms of economic growth and productivity gains, in one-high-technology sector, by stressing the role played by the helices of the Quadruple Helix Innovation Model: Academiaand Technological Infrastructures, Firms of ...
Complementarities and costly investment in a one-sector growth model
Thompson, Maria João RibeiroThe presence of complementarities generally makes a growth model nonlinear, hence delivering multiple equilibria. Introducing internal investment costs in the R&Dbased growth literature, we develop a growth model which combines the assumptions of complementarities between capital goods in the production function and of internal costly investment in capital. We find that with such combination of complementaritie...
A Nonscale growth model with R&D and human capital accumulation
Thompson, Maria João RibeiroThis paper presents an endogenous growth model that includes research and development and human capital accumulation. The model’s specification builds on the R&D-based structure of Romer’s [1990] model and introduces two functions: (1) A specification for the production of new designs that assumes no externalities and no inventions before time zero; and (2) A specification for the accumulation of human capital ...
Complementarities, costly investment and multiple equilibria in a one-sector en...
Thompson, Maria João RibeiroIn this paper we develop a multiple equilibria one-sector R&D-based growth model, in which the key aspects are the assumption of complementarities between capital goods in the production function and the assumption of costly investment in capital. This second assumption is new to the R&D-based literature. The equilibrium solutions are obtained when the Preferences curve, which mirrors consumers’ savings decisio...
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