Innovation Economy, Productive Public Expenditure and Economic Growth | Zendy

Afonso Oscar | Zendy; Monteiro Sara | Zendy; Thompson Maria | Zendy

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Innovation Economy, Productive Public Expenditure and Economic Growth

Author(s) -

Afonso Oscar,

Monteiro Sara,

Thompson Maria

Publication year - 2014

Publication title -

metroeconomica

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 1.256

H-Index - 29

eISSN - 1467-999X

pISSN - 0026-1386

DOI - 10.1111/meca.12054

Subject(s) - economics , public expenditure , public spending , government (linguistics) , multidisciplinary approach , government expenditure , growth model , economies of scale , growth theory , innovation economics , returns to scale , scale (ratio) , public economics , economic system , macroeconomics , production (economics) , microeconomics , public finance , neoclassical economics , social science , linguistics , philosophy , physics , quantum mechanics , sociology , politics , political science , law

Multidisciplinary innovation is the main engine of growth for an increasing number of economies. Innovation requires the participation of and interaction between all economic agents. It also requires public spending on education, research and infrastructures. Our main goal is to emphasize the government's role in a growing innovation economy. Developing a non‐scale, idea‐based, one‐sector growth model with complementarities and productive public expenditure, we analyse theoretically the growth effects of an increase in productive public expenditure, which we find positive in the short, medium and long run.

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