Using US manufacturing industry data, this paper re-examines empirical evidence of first- and second-generation Schumpeterian models of endogenous growth focusing on innovation (patent) quality. It shows that semi-endogenous growth models behave better than the other strands of Schumpeterian theory, especially in the knowledge-intensive part of the economy.
- Fully endogenous growth theory,
- Semi-endogenous growth theory,
- Innovation quality,
- US manufacturing,
- High-tech industries
Available at: http://works.bepress.com/francesco_venturini/20/