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Goverment Spending, Technological Change, Economic Growth, and Population Welfare

In: Paths for growth in undeveloped countries

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  • Rivas-Aceves, Salvador

    (Instituto Politécnico Nacional)

  • Venegas-Martínez, Francisco

    (Instituto Politécnico Nacional)

Abstract

The objective of this paper is to develop a model of an economy with a government acting as a sponsor of technological change. The model allows us to examine the effects on growth of a government promoting technological change. To do this, a two-stage game is proposed. In the first stage the representative consumer-producer made her/his optimal decisions taking as given the government spending used to support technological change. Subsequently, in the second stage, the government chooses its level of effort to support technology, in terms of its spending, in such a way that economic welfare of individuals is maximized.

Suggested Citation

  • Rivas-Aceves, Salvador & Venegas-Martínez, Francisco, 2016. "Goverment Spending, Technological Change, Economic Growth, and Population Welfare," Sección de Estudios de Posgrado e Investigación de la Escuela Superios de Economía del Instituto Politécnico Nacional, in: Ipn (ed.), Paths for growth in undeveloped countries, volume 0, chapter 5, pages 116-127, Escuela Superior de Economía, Instituto Politécnico Nacional.
    • Handle: RePEc:ipn:capitu:013
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