Analysis of Private RD Effects in a CGE Model with Capital Varieties: the Case of the Czech Republic

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F60460709%3A41110%2F13%3A61264" target="_blank" >RIV/60460709:41110/13:61264 - isvavai.cz</a>

Result on the web

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DOI - Digital Object Identifier

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Result language

angličtina

Original language name

Analysis of Private RD Effects in a CGE Model with Capital Varieties: the Case of the Czech Republic

Original language description

In view of the increasing importance of private research in the Czech economy and elsewhere in Europe, this paper attempts to quantify the effect of private R&D on economic growth by applying a Computable General Equilibrium (CGE) model which incorporates the effects of capital varieties following Romer?s theory of endogenous growth. It was discovered that the dynamics of GDP growth are positively related to the production of capital varieties and the elasticity of substitution between homogenous and variety capital. For the Czech Republic, a small and export-oriented economy, support for private R&D can be particularly beneficial since it stimulates the exports of important industries. However, with regard to households, a policy of stimulating R&D could cause short-term adverse effects due to growing unemployment resulting from the substitution of labor for capital varieties.

Czech name

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Czech description

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Type

J_x - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)

CEP classification

AH - Economics

OECD FORD branch

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Project

<a href="/en/project/GPP402%2F11%2FP678" target="_blank" >GPP402/11/P678: Evaluation of Research and Development Effects on the Economic Growth of the Czech Republic with the Use of a Computable General Equilibrium Model</a><br>

Continuities

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Publication year

2013

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Finance a úvěr

ISSN

0015-1920

e-ISSN

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Volume of the periodical

63

Issue of the periodical within the volume

3

Country of publishing house

CZ - CZECH REPUBLIC

Number of pages

26

Pages from-to

262-287

UT code for WoS article

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EID of the result in the Scopus database

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