NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Endogenous Innovation in the Theory of Growth

Gene M. Grossman, Elhanan Helpman

NBER Working Paper No. 4527
Issued in November 1993
NBER Program(s):   EFG

This paper makes the case that purposive, profit-seeking investments in knowledge play a critical role in the long-run growth process. First, we review the implications of neoclassical growth theory and the more recent theories of 'endogenous growth'. Then we discuss the empirical evidence that bears on the modeling of long-run growth. Finally, we describe in more detail a model of growth based on endogenous technological progress and discuss the lessons that such models can teach us.

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Document Object Identifier (DOI): 10.3386/w4527

Published: Grossman, Gene M & Helpman, Elhanan. "Endogenous Innovation in the Theory of Growth," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 23-44, (Winter 1994) citation courtesy of

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