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.