Chu, Angus C.; Lai, Ching-Chong - Volkswirtschaftliche Fakultät, … - 2009
respectively. In this framework, economic growth is driven by market-based civilian R&D as in standard R&D growth models and …In the US, defense R&D share of GDP has decreased significantly since 1960. To analyze the implications on economic … growth and welfare, we develop an R&D-based growth model that features the commonly discussed crowding-out and spillover …