The existing body of literature underscores the crucial role of technology, driven by both innovation and imitation, in fostering economic growth. Human capital emerges as a key factor influencing technology adoption and innovation.We consider a R&D-based growth model to analyze how improvement...

Global warming caused by accumulation of emissions of greenhouse gases (GHGs) is a public bad, addressing which requires collective action by all the countries of the world. Under the United Nations Convention on Climate Change (UNFCCC), most countries have negotiated the Kyoto Protocol for GHG...