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Semi-endogenous versus Schumpeterian growth models: testing the knowledge production function using international data

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Abstract

Using various indicators of innovative activity and product variety in the OECD countries over the past century, this paper tests first- and second-generation models of economic growth. The estimation results give evidence in favour of Schumpeterian models, while the semi-endogenous growth theories are shown not to be consistent with the data.

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Authors and Affiliations

  1. Department of Economics, Monash University, P.O. Box 197, Caulfield East, VIC, 3145, Australia

    Jakob B. Madsen

  2. EPRU and FRU, Department of Economics, University of Copenhagen, Studiestrade 6, 1455, Copenhagen K, Denmark

    Jakob B. Madsen

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  1. Jakob B. Madsen
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Correspondence to Jakob B. Madsen.

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Madsen, J.B. Semi-endogenous versus Schumpeterian growth models: testing the knowledge production function using international data. J Econ Growth 13, 1–26 (2008). https://doi.org/10.1007/s10887-007-9024-0

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