R&D, inégalités et imperfections du marché du capital
Esso, Loesse J.
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The purpose of this paper is to highlight the Nelson-Phelps e¤ect in a technologically backward country. We build a two-period overlapping generations model of heterogenous agents. We suppose that agents inherit ability and a technique of production from their parents. We show that there is an endogenous threshold which allows to distinguish R&D innovators and implementators that produce intermediate goods with lagged productivity. We show that capital markets impact economic growth and convergence towards technology.