Tapping into Talent: Coupling Education and Innovation Policies for Economic Growth
Tapping into Talent: Coupling Education and Innovation Policies for Economic Growth
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挖掘人才:将教育与创新政策结合起来促进经济增长
DOI:
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发表时间:
2020
期刊:
影响因子:
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通讯作者:
Marta Prato
中科院分区:
文献类型:
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作者:
Ufuk Akcigit;Jeremy Pearce;Marta Prato
How do innovation and education policy affect individual career choices and aggregate productivity? This paper analyzes the effect of R&D subsidies and higher education policy on productivity growth through the supply of innovative talent. We put scarce talent, higher education attainment, and career choice at the center of a new endogenous growth framework with individual-level heterogeneity in talent, financial resources, and preferences. We link the model to micro-level data from Denmark on the backgrounds of who obtains a PhD and becomes an inventor and the outcomes of a set of policy interventions. We find that R&D subsidies can be strengthened when combined with higher education subsidies, which enable talented but poor youth to pursue a career in research. Education and innovation policies not only alleviate different frictions, but also impact innovation at different time horizons. Education policy is more effective in societies with higher income inequality.