dc.contributor.author
Sánchez-Losada, Fernando
dc.contributor.author
García Rodríguez, Abián
dc.date.issued
2014-03-24T11:49:08Z
dc.date.issued
2014-03-24T11:49:08Z
dc.date.issued
2014-03-24T11:49:08Z
dc.identifier
https://hdl.handle.net/2445/52848
dc.description.abstract
In this paper we show that the R&D effort of a country and its economic growth are highly correlated. In order to analyze this relationship, we study the nature of the researching activity. In particular, we focus on the following characteristics of research: the inherent uncertainty of researching, the existence of a wage premium associated to innovative activities, and moral hazard. Assuming that a higher R&D effort translates into a higher R&D success probability, we show that when the R&D success probability is low, the economy is not willing to bear the risk associated to R&D activities. As a consequence, few researchers are hired and the economy stays in an R&D poverty trap, a situation where the economy is stacked in a low growth environment due to the uncertainty associated with the researching activity.
dc.format
application/pdf
dc.publisher
Universitat de Barcelona. Facultat d'Economia i Empresa
dc.relation
Reproducció del document publicat a: http://www.ub.edu/ubeconomics/e14307-rd-poverty-traps/
dc.relation
UB Economics – Working Papers, 2014, E14/307
dc.relation
[WP E-Eco14/307]
dc.rights
cc-by-nc-nd, (c) Sánchez-Losada et al., 2014
dc.rights
http://creativecommons.org/licenses/by-nc-nd/3.0/
dc.rights
info:eu-repo/semantics/openAccess
dc.source
UB Economics – Working Papers [ERE]
dc.subject
Desenvolupament econòmic
dc.subject
Innovacions tecnològiques
dc.subject
Propietat intel·lectual
dc.subject
Política governamental
dc.subject
Economic development
dc.subject
Technological innovations
dc.subject
Intellectual property
dc.subject
Government policy
dc.title
R&D poverty traps
dc.type
info:eu-repo/semantics/workingPaper