university of rochesterrcer.econ.rochester.edu/rcerpapers/rcer_27.pdf · increasing returns and...

68
Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester

Upload: others

Post on 13-Aug-2020

5 views

Category:

Documents


0 download

TRANSCRIPT

Page 1: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester

Increasing Returns and Long Run Growth

Romer, Paul A.

Working Paper No. 27

October 1985

University of

Rochester

Page 2: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 3: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 4: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 5: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 6: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 7: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 8: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 9: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 10: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 11: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 12: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 13: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 14: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 15: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 16: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 17: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 18: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 19: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 20: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 21: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 22: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 23: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 24: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 25: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 26: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 27: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 28: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 29: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 30: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 31: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 32: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 33: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 34: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 35: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 36: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 37: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 38: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 39: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 40: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 41: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 42: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 43: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 44: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 45: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 46: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 47: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 48: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 49: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 50: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 51: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 52: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 53: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 54: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 55: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 56: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 57: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 58: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 59: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 60: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 61: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 62: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 63: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 64: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 65: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 66: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 67: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester
Page 68: University of Rochesterrcer.econ.rochester.edu/RCERPAPERS/rcer_27.pdf · Increasing Returns and Long Run Growth Romer, Paul A. Working Paper No. 27 October 1985 University of Rochester