Excesso de incentivos à inovação na presença de consumidores sofisticados: um modelo de progresso tecnológico endógeno com capital humano
DOI:
https://doi.org/10.1590/S0101-41612007000300006Keywords:
growth models, Research & Development, human capitalAbstract
In this article it is developed a growth model based on endogenous technological progress, where growth is induced by continuous improvements in the quality of each differentiated product. The innovation, the "engine" of growth, has human capital as its critical fuel. Based on Grossman & Helpman's (1991a, 1991b) models but differently considering an index of consumption constituted by both differentiated goods and a homogenous good, the model proposed highlights the crucial influence of demand on economic growth, an issue neglected by endogenous growth literature. From the modeling effort it results that less sophisticated consumers, with reduced preferences by quality differentiated products generate, for sure, insufficient incentives to research, whereas highly sophisticated consumers might generate excessive incentives. Thus, in the case the share of differentiated products is correlated with the country's development level, less developed countries tend to present relatively low innovation rates, contrasting with more developed countries, where these rates might be (socially) excessive.Downloads
References
Aghion, P.; Howitt, P. A model of growth through creative destruction. Econometrica,
v. 60, n. 2, p. 323-351, 1992.
Barro, R. Economic growth in a cross section of countries. Quarterly Journal of Economics,
v. 106, n. 2, p. 407-443, 1991.
Barro, R. Are government bonds net wealth? Journal of Political Economy, v. 81, n. 6,
p. 1095-1117, 1974.
Barro, R. J.; Sala-i-Martin, X. Economic growth. New York: McGraw-Hill, Advanced
Series in Economics, 1995.
Becker, G. S.; Murphy, K. M.; Tamura, R. Human capital, fertility, and economic
growth. Journal of Political Economy, v. 98, n. 5, p. S12-S37, 1990.
Bianchi, M. Novelty, preferences and fashion: when goods are unsettling. Journal of
Economic Behavior and Organization, v. 47, p. 1-18, 2002.
Caballero, R. J.; Jaffe, A. B. How high are the giants shoulders: an empirical assessment
of knowledge spillovers and creative destruction in a model of economic
growth. National Bureau of Economic Research Macroeconomics Annual Meeting,
p. 15-74, 1993.
Collins, S. M. Lessons from Korean economic growth. The American Economic Review,
v. 80, n. 2, p. 104-107, 1990.
Di Liberto, A. Convergence and divergence in neoclassical growth models with human
capital. Contributi di Ricerca CRENoS (Centro Ricerche Nord-Sud, Università
di Cagliari) n. 8, Cagliari, 2005.
Dixit, A. K. Optimization in economic theory. 2nd Edition. New York: Oxford University Press, 1990.
Dutt, A. K. Aggregate demand, aggregate supply and economic growth. International Review of Applied Economics, v. 20, n. 3, p. 319–336, July 2006.
Fan, C. S. Quality, trade, and growth. Journal of Economic Behavior & Organization, v. 55, p. 271–291, 2004.
Fatas-Villafranca, F.; Saura-Bacaicoa, D. Understanding the demand-side of economic change: a contribution to formal evolutionary theorizing. Econ. Innov. New Techn., v. 13, n. 8, p. 695–716, 2004.
GEPIE. Inovação na indústria portuguesa: observatório MIE. Abril 1992.
Grossman, G. M.; Helpman, E. Endogenous innovation in the theory of growth. Journal of Economic Perspectives, v. 8, n. 1, p. 23-44, 1994.
Grossman, G. M.; Helpman, E. Innovation and growth in the global economy. Cambridge, Mass.; and London England: MIT Press, 2ª impressão, 1993.
Grossman, G. M.; Helpman, E. Quality ladders and product cycles. Quarterly Journal of Economics, v. 106, n. 2, p. 557-586, 1991a.
Grossman, G. M.; Helpman, E. Quality ladders in the theory of growth. Review of Economic Studies, v. 58, p. 43-61, 1991b.
Helpman, E. Endogenous macroeconomic growth theory. European Economic Review,
v. 36, p. 237-267, 1992.
Lucas, R. E. Making a miracle. Econometrica, v. 61, n. 2, p. 251-272, 1993.
Lucas, R. E. On the mechanics of economic development. Journal of Monetary Economics,
v. 22, p. 3-42, 1988.
Lucas, R. E. Why doesn’t capital flow from rich to poor countries? The American Economic
Review, v. 80, n. 2, p. 92-96, 1990.
Mangasarian, O. L. Sufficient conditions for the optimal control of nonlinear systems.
SIAM Journal of Control, v. 4, p. 139-152, 1966.
Metcalfe, S. Consumption, preferences, and the evolutionary agenda. Journal of Evolutionary
Economics, v. 11, p. 37–58, 2001.
Pasinetti, L. Structural change and economic growth. Cambridge: Cambridge University
Press, 1981.
Pasinetti, L. Structural economic dynamics. Cambridge: Cambridge University Press, 1993.
Pontryagin, L. S.; Boltyanskii, V. G.; Gamkrelidze, R. V.; Mishchenko, E. F. The mathematical
theory of optimal processes. New York: Inter-science Publishers, 1962.
Ramsey, F. A mathematical theory of saving. Economic Journal, v. 38, p. 543-559,
; In: Stiglitz, J. E.; Uzawa, H. (eds.), Readings in the modern theory of economic
growth. 5th. Ed. The MIT Press, 1979.
Romer, P. Growth based on increasing returns due to specialization. The American
Economic Review, v. 77, p. 56-62, 1987.
Romer, P. Endogenous technological change. Journal of Political Economy, v. 98, n. 5, pt.2, p. S71-S101, 1990.
Santos, F. B. Cálculo das probabilidades. 5ª Edição. Plátano Editora SA, 1988.
Saviotti P. Information, variety and entropy in technoeconomic development. Research
Policy, v. 17, p. 89-103, 1988.
Saviotti P. Technological evolution, variety and the economy. Aldershot: Edward Elgar,
Saviotti P. The role of variety in economic and technological development. In: Saviotti
P.; Metcalfe, J.S. (eds.), Evolutionary theories of economic and technological change:
present state and future prospects. Harwood Publishers, Reading, 1991, p. 172–208.
Saviotti P. Variety, economic and technological development. In: Shionoya Y.; Perlman,
M. (eds.), Technology, industries and institutions: studies in Schumpeterian perspectives. Ann Arbor: The University of Michigan Press, 1994.
Saviotti P. Variety, growth and demand. Journal of Evolutionary Economics, v. 11, p.119-142, 2001.
Saviotti P.; Mani G. S. Competition, variety and technological evolution: a replicator
dynamics model. Journal of Evolutionary Economics, v. 5, p. 369-392, 1995.
Schultz, T. Investment in human capital. The American Economic Review, v. 51, n. 1,
p. 1-17, 1961.
Schumpeter, J. A. The theory of economic development. Cambridge MA: Harvard University
Press, 1934.
Segerstrom, P. S. Innovation, imitation, and economic growth. Journal of Political Economy, v. 99, n. 4, p. 807-827, 1991.
Solow, R. M. A contribution to the theory of economic growth. Quarterly Journal of Economics, v. 70, p. 65–94, 1956.
Sonobe T.; Hu, D.; Otsuka, K. From inferior to superior products: an inquiry into the Wenzhou model of industrial development in China. Journal of Comparative Economics, v. 32, p. 542-563, 2004.
Teixeira, A. A. C. Capital humano e capacidade de inovação. Contributos para o estudo
do crescimento Económico Português, 1960-1991. Série Estudos e Documentos, Conselho Económico e Social, Lisboa, 1999.
Witt, U. Economic growth – What happens on the demand side? Introduction.
Journal of Evolutionary Economics, v. 11, p. 1-5, 2001a.
Witt, U. Learning to consume – A theory of wants and the growth of demand.
Journal of Evolutionary Economics, v. 11, p. 23-36, 2001b.
Downloads
Published
Issue
Section
License
Copyright (c) 2007 Aurora A. C. Teixeira
![Creative Commons License](http://i.creativecommons.org/l/by-nc/4.0/88x31.png)
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
By submitting an article, the author authorizes its publication and attests that it has not been submitted to any other journal. The original article is considered final. Articles selected for publication are proofread for grammatical and orthographic errors. The journal does not pay rights for published articles. The Institute of Economic Research from the School of Economics, Business and Accounting of the University of São Paulo (Instituto de Pesquisas Econômicas da Faculdade de Economia, Administração e Contabilidade da Universidade de São Paulo) owns the journal's copyright.