This paper makes the case that purposive, profit-seeking investments in knowledge play a critical role in the long-run growth process. First, we review the implications of neoclassical growth theory and the more recent theories of 'endogenous growth'. Then we discuss the empirical evidence that...

We develop a two-country model of endogenous innovation and imitation in order to study the interactions between these two processes. Firms in the North race to bring out the next generation of a set of technology-intensive products. Each product potentially can be improved a countably infinite...

We construct a model of the product cycle featuring endogenous innovation and endogenous technology transfer. Competitive entrepreneurs in the North expend resources to bring out new products whenever expected present discounted value of future oligopoly profits exceeds current product...

We develop a multi-country, dynamic general equilibrium model of product innovation and international trade to study the creation of comparative advantage through research and development and the evolution of world trade over tune. In our model, firms must incur resource costs to introduce new...

Paul Romer (1986, 1990) ve Robert Lucas (1988)’in makaleleri bize; ölçeðe göre artan getirilerin mevcut olduðu bir ekonomik ortamda yatýrým gerçekleþtiðinde, sermayenin marjinal ürününün iskonto oranýna göre zamanla düþmesi gerekmediðini hatýrlatmýþtýr. Zira sermaye...