SEMINAR 10 December 2012: Jakob B. Madsen, Monash University

Human Accomplishment over the Last Millennium: Endogenous Growth Models Meet their Past

Abstract

Using data for innovations, great scientists, human capital, and international knowledge spillovers this paper studies human accomplishment over the past millennium in the East, the West and Central Asia. Adapting a basic endogenous framework the paper examines whether economic development and income growth can be explained by significant innovations, great scientists, human capital and transfer of technology internationally. Furthermore, an ideas production function is estimated to shed light on intertemporal knowledge spillovers and the effects of scientists and population on knowledge production. The results show that the endogenous growth framework explains the history of growth remarkably well.

JEL classification: O1, P16

Key words: the Great Divergence, ideas production, endogenous growth models