Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/81960 
Year of Publication: 
2000
Series/Report no.: 
EPRU Working Paper Series No. 2000-07
Publisher: 
University of Copenhagen, Economic Policy Research Unit (EPRU), Copenhagen
Abstract: 
In this paper we develop a theory of scale-invariant endogenous growth. By this we mean a theory capable of generating a balanced growth path where both the growth rate and the level of GDP per capita are independent of the size of population, where population growth is neither necessary nor conductive for economic growth, and where economic incentives and policy matter for growth. Such a theory arises naturally when endogenous skill formation is added to a basic R&D driven growth model featuring diminishing returns to existing knowledge in creating new ideas.
Document Type: 
Working Paper

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