Arbeitspapier
How to promote R&D-based growth? : public education expenditure on scientists and engineers versus R&D subsidies
Empirical evidence suggests that positive externalities from R&D exceed negative ones. According to conventional wisdom, this calls for R&D subsidies. This paper develops a quality-ladder growth model with overlapping generations which evaluates the positive and normative implications of R&D subsidies and compares them with the effects of public education policy to promote R&D. Unlike standard growth models, the proposed framework accounts for the specificity of science and engineering (S&E) skills, where individuals endogenously choose the type of education, and allows for heterogeneity in individual ability. Although intertemporal knowledge spillovers are hypothesized and negative R&D externalities are absent, the analysis shows somewhat surprisingly that R&D subsidies may be detrimental to both productivity growth and welfare, in contrast to publicly provided education targeted to S&E skills. Finally, the optimal structure of public education spending on different skills is examined.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 1225
- Klassifikation
-
Wirtschaft
Innovation and Invention: Processes and Incentives
Taxation, Subsidies, and Revenue: General
One, Two, and Multisector Growth Models
Technological Change: Government Policy
- Thema
-
education policy
endogenous growth
R&D subsidies
scientists and engineers
Hochschulfinanzierung
Öffentliche Bildungsausgaben
Forschungssubvention
Vergleich
Neue Wachstumstheorie
Bildungsverhalten
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Grossmann, Volker
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2004
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Grossmann, Volker
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2004
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