publication . Research . Other literature type . Preprint . 1993

Financing R & D with Knowledge Stock Rentals

Hartwick, John M.; Hartwick, John M.;
Open Access English
  • Published: 01 May 1993
  • Publisher: Kingston (Ontario): Queen's University, Department of Economics
Abstract
We set out an endogenous growth model along the lines of Romer(1990) and investigate the implications of financing new knowledge production (R&D) with rental income accruing to the knowledge stock used in goods production. The knowledge stock is a non-public input in goods production. The balance growth rate under optimal growth can be greater or less than that under the invest knowledge stock rentals regime depends on the parameters of the production function and not on the parameters of preference.
Subjects
free text keywords: ddc:330, Financial Economics
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