Schiff, Maurice W. (contributor); Wang, Yanling (contributor) - 2008
increasing returns to knowledge
accumulation originated with Romer (1986, 1990). One of the implications of this theory
is that … policies affecting knowledge accumulation can have a permanent effect on the rate
of economic growth.
Knowledge is assumed … to differ in two ways from traditional inputs. First, it has
public good characteristics; and second, new knowledge is …