Endogenous Technological Change¶
Romer, P. M. (1990). Endogenous Technological Change. Journal of Political Economy, 98(5).
Cited by¶
5 citations across 4 artifacts.
Each citation links to the sentence it supports in the citing article.
Primes¶
- Creative Destruction
- An alternative endogenous-growth mechanism, Romer's (1990)
This sourceEndogenous-growth model with nonrival knowledge accumulation as the engine of growth; supports the alternative-endogenous-mechanism claim complementing Aghion-Howitt quality ladders.
Supported in partVerified against the publisher's abstract
Romer's own abstract states growth is driven by intentional R&D investment in a nonrival technology, which backs the knowledge-accumulation mechanism but says nothing about it being an alternative to quality-ladder competition.
“Growth in this model is driven by technological change that arises from intentional investment decisions made by profit-maximizing agents. The distinguishing feature of the technology as an input is that it is neither a conventional good nor a public good; it is a nonrival, partially excludable good.”
- An alternative endogenous-growth mechanism, Romer's (1990)
- Economies of Scale
This source2, S71–S102. Knowledge as a non-rival input driving long-run growth.
- … microeconomic theory, scale economies underpin the distinction between constant, increasing, and decreasing returns to scale production functions, and they are central to Paul Krugman's Nobel-prize-winning new trade theory (Krugman 1979, 1980, 1991) and to the endogenous growth theory of Romer (1986, 1990)
Domain-specific¶
- Economic Growth Model
- Endogenous Growth Theory
- The wedge between private and social returns — knowledge producers capture only a fraction of the value their discoveries create, because other firms can learn from and build on them — creates a market failure that implies private R&D investment is suboptimally low
This sourceShows that because designs are nonrival and only partially excludable, the market equilibrium devotes too little human capital to research. Romer's research-sector model, in which the stock of human capital and its allocation to research determine the long-run growth rate.
SupportedVerified against the source
- The wedge between private and social returns — knowledge producers capture only a fraction of the value their discoveries create, because other firms can learn from and build on them — creates a market failure that implies private R&D investment is suboptimally low
Verification¶
Does it exist? Confirmed. This work's DOI resolves to a registered record, which fixes its identity. That is all it fixes.
Does it back the claim? Read against the text for 3 of 5 citations: 2 supported, 1 supported in part. Each verdict is shown under its citation below, with what in the work backs the sentence.
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