Papageorgiou, Chris; Sebastián, Fidel Pérez - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2005
This paper compares transitional dynamics in two alternative R&D non-scale growth models; one includes endogenous human capital, whereas the other does not. We show that focusing on the speed of convergence to discriminate between the two models can be misleading. Our analysis suggests that a...