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• W2993984283 abstract "This paper analyses the consequences for growth during the transitional period of considering the learning-by-doing process proposed by Arrow (1962) as internal, instead of as an externality. To do this, it develops a simple endogenous growth model with human capital accumulation through external and internal learning processes. The calibrated model delivers two features of the Japanese growth experience: slow convergence, and negative correlation between the growth rate of per capita GDP and investment share. The crucial implication of internal learning-by-doing is the double role of physical investment that operates reducing diminishing returns to physical capital." @default.
• W2993984283 created "2019-12-13" @default.
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• W2993984283 date "2005-01-01" @default.
• W2993984283 modified "2023-09-28" @default.
• W2993984283 title "Internal Learning By Doing And Economic Growth" @default.
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