We study innovation and the resulting Schumpeterian economic growth that this innovation gives rise to in a model with … balanced growth path (BGP) allocations and the equilibrium of interest. Second, we stipulate the form of the innovation … circumstances in which there is either too much or too little innovation in (i) the ith region, (ii) the aggregate economy of N>2 …

We use a dynamic model to study the effects of technology and learning on the long run economic growth rates of a … lagging region are the result of learning from the leading region's technologies. Our analysis sheds light on four salient …