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This paper theoretically and empirically analyzes the interaction of emigration of highly skilled labor, an economy`s income gap to potential host economies of expatriates, and optimal public infrastructure investment. In a model with endogenous education and R&D investment decisions we show...
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Many warn that the next stage of globalization--the offshoring of research and development to China and India …--prosperity at home, and why trying to maintain the U.S. lead by subsidizing more research or training more scientists will do more … harm than good. When breakthrough ideas have no borders, a nation's capacity to exploit cutting-edge research regardless of …
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We introduce publicly funded education into R&D based economic growth theory. Our framework allows us to i) explicitly describe a realistic process of human capital accumulation within these types of growth models, ii) reconcile semi-endogenous growth theory with the empirical evidence on the...
Persistent link: https://www.econbiz.de/10009671493
We introduce publicly funded education into R&D-based economic growth theory. Our framework allows us to i) explicitly describe a realistic process of human capital accumulation within these types of growth models, ii) reconcile semi-endogenous growth theory with the empirical evidence on the...
Persistent link: https://www.econbiz.de/10009674960
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