Please use this identifier to cite or link to this item: https://doi.org/10.1016/S0304-3878(00)00148-6
Title: Innovative vs. imitative R and D and economic growth
Authors: Zeng, J. 
Keywords: Economic growth
Imitation
Innovation
Issue Date: 2001
Source: Zeng, J. (2001). Innovative vs. imitative R and D and economic growth. Journal of Development Economics 64 (2) : 499-528. ScholarBank@NUS Repository. https://doi.org/10.1016/S0304-3878(00)00148-6
Abstract: This paper develops a multi-sector dynamic general equilibrium growth model, in which innovation improves product quality and imitation expands product variety and both innovation and imitation can occur simultaneously in the same sector. Within the analytical framework so developed, we show that (i) subsidizing innovation and taxing imitation are not necessarily equivalent in terms of their effects on imitation; (ii) an innovation subsidy always speeds up economics growth while an imitation subsidy always does the opposite; and (iii) the welfare effects of both innovation and imitation subsidies are ambiguous. © 2001 Elsevier Science B.V. All rights reserved.
Source Title: Journal of Development Economics
URI: http://scholarbank.nus.edu.sg/handle/10635/22431
ISSN: 03043878
DOI: 10.1016/S0304-3878(00)00148-6
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