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This paper proposes a theory for the gradual evolution of knowledge diffusion and growth over the very long run. A feedback mechanism between capital accumulation and the ease of knowledge diffusion explains a long epoch of (quasi-) stasis and an epoch of high growth linked by a gradual economic...
Persistent link: https://www.econbiz.de/10010311672
dynamics of important variables like firm value, dividend payout, and investment differs qualitatively depending on whether the …
Persistent link: https://www.econbiz.de/10010264950