Economics, Econometrics and Finance
4 years ago

Schumpeterian Growth Models Outperform Semi-Endogenous Theories in Economic Innovation.

2 views
RePEc: Research Papers in Economics
SEMI-ENDOGENOUS VERSUS SCHUMPETERIAN GROWTH MODELS: TESTING THE KNOWLEDGE PRODUCTION FUNCTION USING INTERNATIONAL DATA
Jakob B. Madsen, Epru

Paper Summary

The study compared two types of economic growth models using data from OECD countries. The results showed that Schumpeterian models, which focus on innovation, were supported by the data, while semi-endogenous growth theories were not.

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