Liberating Supply-Fiscal Policy and Technological Innovation in a Multicountry Model Tamim Bayoumi

ISBN: 9781281379214

Published: June 1st 1998

ebook

27 pages


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Liberating Supply-Fiscal Policy and Technological Innovation in a Multicountry Model  by  Tamim Bayoumi

Liberating Supply-Fiscal Policy and Technological Innovation in a Multicountry Model by Tamim Bayoumi
June 1st 1998 | ebook | PDF, EPUB, FB2, DjVu, audiobook, mp3, RTF | 27 pages | ISBN: 9781281379214 | 6.40 Mb

Profit-maximizing enterprises invest in research and development (R&D) to develop new products or to increase the efficiency with which they produce and market existing products. For the economy as a whole, R&D expenditures boostMoreProfit-maximizing enterprises invest in research and development (R&D) to develop new products or to increase the efficiency with which they produce and market existing products.

For the economy as a whole, R&D expenditures boost technological progress and economic growth. Aggregate investment in R&D, like business investment in physical capital, will depend, in part, on current and expected government policies. Economic policies in one country will have an impact on economic developments in their neighbors since national economies are embedded in a global system characterized by mutual interdependence. This interdependence is also reflected in technology transfers between countries as they learn from each other manufacturing methods, modes of organization, marketing, and product design.



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