DP1901 Technology in Growth

Author(s):	Louise Keely, Danny Quah
Publication Date:	June 1998
Keyword(s):	Endogenous Growth, ideas, Innovation, intellectual property rights, knowledge, Patents, R&D, Spillover
JEL(s):	D90, O30, O33
Programme Areas:	International Macroeconomics
Link to this Page:	cepr.org/active/publications/discussion_papers/dp.php?dpno=1901

We review the role of R&D in endogenous growth theory, and describe extant empirical research ? macro and micro ? bearing on R&D as an engine of growth. Taking R&D to be key, while recognizing the significance of economic incentives, emphasizes knowledge as an economic object and, more generally, the economics of intellectual property rights. This paper argues that property rights matter, but in subtle counterintuitive ways, not yet fully investigated in research on endogenous growth.