Gil, Pedro Mazeda; Afonso, Oscar; Vasconcelos, Paulo B. - Faculdade de Economia, Universidade do Porto - 2015
By means of an endogenous growth model of directed technical change with vertical and horizontal R&D, we study a transitional-dynamics mechanism that is consistent with the changes in the share of the high- versus the low-tech sectors found in recent European data. Under the hypothesis of a...