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dc.contributor.authorGrowiec, Jakub
dc.identifier.citationGrowiec J., R&D Capital: An Engine of Growth, SGH KAE Working Papers, 2022, nr 2022/077, s. 1-9en
dc.description.abstractResearch and development (R&D) requires not only skilled research work, but also dedicated machinery and equipment: R&D capital. In this paper I demonstrate that R&D, producing labor-augmenting ideas, and the accumulation of R&D capital can form a dual engine of economic growth. With R&D capital, balanced growth can be sustained even under decreasing returns and in the absence of population growth. This result contributes to the long-lasting debate on endogenous vs. semi-endogenous R&D-based growth and the likelihood of an upcoming secular stagnation.en
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dc.subjectR&D capitalen
dc.subjectlong-run economic growthen
dc.subjectgrowth engineen
dc.subjectendogenous growthen
dc.subjectsecular stagnationen
dc.titleR&D Capital : An Engine of Growthen
dc.description.seriesSGH KAE Working Papers Seriesen

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