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1、NBERWORKINGPAPERSERIESENDOCENOUSTECHNOLOGICALCHANGEPaulM.RomerWorkingPaperNo.3210NATIONALBUREAUOFECONOMICRESEARCH1050MassachusettsAvenueCambridge,MA02138December1989reparedfortheconference"TheProblemofEconomicDevelopment,"SUNYuffalo,May1988.1havebenefittedfromthecommentsofma
2、nyseminarandandonferenceparticipantsandtwodiscussants(RobVishny,BuffaloMay1988,aleJorgenson,NBEREconomicFluctuationsmeeting,July1988).DiscussionsithGaryBecker,KarlShell,RobertLucas,GeneGrossman,andElhananHelpinanXie.Theereespeciallyhelpful.ResearchassistancewasprovidedbyDany
3、angrevisedwhileIriginalworkwassupportedbyNSFgrant#SES-8618325.ItwasSciencesandasavisitorattheCenterforAdvancedStudyintheBehavioralupportedbyNSFgrand#BNS87-00864.ThispaperispartofNBER'sresearchoftheauthornotthoseofrograminGrowth.AnyopinionsexpressedarethoseheNationalBureauofE
4、conomicResearch.NBERWorkingPaper#3210December1989ENDOGENOUSTECHNOLOGICALCHANGEABSTRACTGrowthinthismodelisdrivenbytechnologicalchangethatarisesfromintentionalinvestmentdecisionsmadebyprofitmaximizingagents.Thedistinguishingfeatureofthetechnologyasaninputisthatitisneitheraconv
5、entionalgoodnorapublicgood;itisanonrival,partiallyexcludablegood.Becauseofthenonconvexityintroducedbyanonrivalgood,price-takingcompetitioncannotbesupported,andinstead,theequilibriumisonewithmonopolisticcompetition.Themainconclusionsarethatthestockofhumancapitaldeterminesther
6、ateofgrowth,thattoolittlehumancapitalisdevotedtoresearchinequilibrium,thatintegrationintoworldmarketswillincreasegrowthrates,andthathavingalargepopulationisnotsufficienttogenerategrowth.PaulM.RomerDepartmentofEconomicsUniversityofChicago1126East59thStreetChicago,IL60637I.Int
7、roductionOutputperhourworkedintheUnitedStatestodayistentimesasvaluableasoutputperhourworked100yearsago.(Maddison,1982).Sincethe1950s,economistshaveattributedmuchofthechangeinoutputperhourworkedeitherdirectlyorindirectlytotechnologicalchange.(Abromowitz,1956,Kendrick,1956,Sol
8、ow,1957.)Fromanaivepointofviewthisseemsright.Therawmaterialsthatweusehaveno
