Public policy and growth in Canada: an applied endogenous growth model with human and knowledge capital accumulation

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dc.citation.epage309en_US
dc.citation.spage298en_US
dc.citation.volumeNumber50en_US
dc.contributor.authorVoyvoda, E.en_US
dc.contributor.authorYeldan, E.en_US
dc.date.accessioned2016-02-08T11:02:44Z
dc.date.available2016-02-08T11:02:44Z
dc.date.issued2015en_US
dc.departmentDepartment of Economicsen_US
dc.description.abstractEvidence suggests that the Canadian economy is over-shadowed with lagging productivity growth and that its innovation strategy lacks a market-oriented focus; and is unbalanced and biased. We study this problem with the aid of a dynamic general equilibrium model driven by analytics of endogenous growth and investigate the viable policy options and assess the interactions between knowledge driven growth, acquisition of human capital, and the role of strategic public policy for the Canadian economy. We study alternative public policies aimed at fostering the development of human capital (investment in education) and those at enhancing investments in innovation. Based on the re-allocation effects triggered by public subsidization policies on higher education versus industry/business R&D, our results corroborate that Canadian economy is falling short of its potential in (business) technological innovation. Our analyses further imply that the most welfare enhancing policy is to have a complementary mix of education and R&D subsidization designed to avoid the trade-offs that emerge in the short run. © 2015 Elsevier B.V.en_US
dc.description.provenanceMade available in DSpace on 2016-02-08T11:02:44Z (GMT). No. of bitstreams: 1 bilkent-research-paper.pdf: 70227 bytes, checksum: 26e812c6f5156f83f0e77b261a471b5a (MD5) Previous issue date: 2015en
dc.identifier.doi10.1016/j.econmod.2015.06.028en_US
dc.identifier.eissn1873-6122
dc.identifier.issn0264-9993
dc.identifier.urihttp://hdl.handle.net/11693/26641en_US
dc.language.isoEnglishen_US
dc.publisherElsevieren_US
dc.relation.isversionofhttp://dx.doi.org/10.1016/j.econmod.2015.06.028en_US
dc.source.titleEconomic Modellingen_US
dc.subjectCanadian economyen_US
dc.subjectEducationen_US
dc.subjectEndogenous growthen_US
dc.subjectGeneral equilibriumen_US
dc.subjectR&Den_US
dc.subjectSubsidizationen_US
dc.titlePublic policy and growth in Canada: an applied endogenous growth model with human and knowledge capital accumulationen_US
dc.typeArticleen_US

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