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| Author: | Jones, C. |
| Title: | Growth: with or without scale effects? |
| Journal: | American Economic Review
1999 : MAY, VOL. 89:2, p. 139-144 |
| Index terms: | ECONOMICS GROWTH SCALING |
| Language: | eng |
| Abstract: | The discovery of new ideas is the engine of growth in many recent growth models. As emphasized by Paul Romer (1986, 1990), ideas are different from most goods analyzed in economics in that they are nonrivalrous: the use of an idea by one person does not preclude, at a technological level, the simultaneous use of the idea by another person, or even by many people. This leads to a tight link between idea-based growth models and increasing returns to scale. |
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