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Cambridge Journal of Economics Advance Access originally published online on November 8, 2006
Cambridge Journal of Economics 2007 31(3):379-392; doi:10.1093/cje/bel029
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© The Author 2006. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved.

Homogeneity masquerading as variety: the case of horizontal innovation models

Man-Seop Park*

* Department of Economics, Korea University

Address for correspondence: Department of Economics, Korea University, Anam-Dong, Sungbuk-Gu, Seoul, 136–701, Korea; email: manseop{at}korea.ac.kr

The literature on ‘horizontal innovation’ claims to analyse cases where unbounded endogenous growth comes from an increasing variety of intermediate goods. The present paper contends that a good sample of representative models in this literature share two essential assumptions regarding production technology, and that these assumptions together amount to assuming the homogeneity of various intermediate goods. In these models, there is no variety of intermediate goods to increase owing to R&D activities; what increases is a mass of a single homogeneous intermediate good.

Key Words: Horizontal innovation • Dixit–Stiglitz technology

JEL classifications: E13, O41

Manuscript received July 5, 2005; final version received July 14, 2006.


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Capital and interest in horizontal innovation models
Camb. J. Econ., November 9, 2009; (2009) bep074v1.
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