This paper presents an endogenous growth model that includes research and development and human capital accumulation. The model’s specification builds on the R&D-based structure of Romer’s [1990] model and introduces two functions: (1) A specification for the production of new designs that...

Empirical evidence has recently pointed to the lack of any relationship between R&D intensity (variously defined and measured) and economic growth in the post-war period in the United States and other OECD countries. Using a framework that integrates human capital accumulation and purposive...