Acs, Zoltan J.; Carlsson, Bo; Braunerhjelm, Pontus; … - Max-Planck-Institut für Ökonomik, Max-Planck-Gesellschaft
The intellectual breakthrough contributed by the new growth theory was the recognition that investments in knowledge and human capital endogenously generate economic growth through the spillover of knowledge. Endogenous growth theory does not explain how or why spillovers occur. The missing link...
