Concerns are mounting over the potential for weak future growth as the Korean economy faces a wide range of structural issues including an aging society, a crisis in key regional industries, and the COVID-19 pandemic. Due to these concerns, the Korean government has established innovation growth...

Until now, in models of endogenous growth with physical capital, human capital and Ramp;D such as in Arnold [Journal of Macroeconomics 20 (1998)] and followers, steady-state growth is independent of innovation activities. We introduce absorption in human capital accumulation and describe the...

There is an “erosion effect” of R&D on human capital accumulation. This paper develops an economic growth model with endogenous technological progress and human capital accumulation, and emphasizes there are two characterizations in R&D process, which are that R&D process requires human...

This paper investigates the long-run effects of prolonged air pollution on firm-level human capital, knowledge and innovation composition. Using a novel firm-level dataset covering almost all industrial firms engaged in science and technology activities in China, and employing a regression...

Science and technology is seen as the key factor supporting the performance of regional innovation systems. Furthermore, the innovation intensity in the region could be often crucial for regional economic development. Our research aims to examine the potential link between the economic...

Under what conditions does an economy produce and consume larger quantities of goods, a wider set of goods, or a higher quality of goods? This paper explores the effects of income inequality on product quality and variety in a simple heterogeneous household economy. The income distribution is a...

After having explored the mental processes around creation of novelty (Part I) as part of human’s adaptive behaviour to environmental change, in this second article about the deep origins of innovation we focus on the transfer of novelty by cultural replication. Applying Dawkins’...

We examine how inequality and openness interact in shaping the long-run growth prospects of developing countries. To this end, we develop a Schumpeterian growth model with heterogeneous households and non-homothetic preferences for quality. We show that inequality affects growth very differently...

The paradoxes of Lucas and Romer relate to the theoretical coherence of the international differences in productivity of the factors of production. To solve these paradoxes, the assumption of externality of the physical capital seems better than the assumption of externality of the human capital...

We study a model of endogenous growth where firms invest both in product and process innovations. Product innovations (that open up completely new product lines) satisfy the advanced wants of the rich. Subsequent process innovations (that decrease costs per unit of quality) transform the...