Luintel, Kul Bahadur; Khan, Mosahid - 2016
There has been a concomitant rise in R&D and the rate of economic growth in emerging countries. Analyzing a panel of 31 … emerging countries, we find convincing evidence of scale effects which make government policies potent for long-run growth … stock, implying that the diminishing returns assumed by some semi-endogenous growth models might not be generalized …