Are Ideas Getting Harder to Find in the UK?
- DOI
- 10.2991/aebmr.k.220405.095How to use a DOI?
- Keywords
- Idea production; Solow Growth Model; the UK; Decreasing return to scale
- Abstract
To deal with the question that whether idea production is decreasing return to scale during 1996 to 2017 in the United Kingdom, the writer of the paper derived a formula from Solow Growth Model and Romer Growth Model. The detailed derivation of the main formula is to be explained in the context. By quantifying data related to ideas production, which includes the national output, labor input of research of development sector, changes in capital stock, and patents applied during our timeframe, this work can calculate the capital stock of each year from 1996-2017. By using these data, calculation of the increase rate of At (the capital stock of each year) between every two consecutive years would be applicable. And furthermore, one would be able to calculate the value of z, which will be elaborated in the following passage. And for the z being negative, a conclusion may be drawn that during 1996 to 2017, ideas production is indeed decreasing return to scale in the United Kingdom.
- Copyright
- © 2022 The Authors. Published by Atlantis Press International B.V.
- Open Access
- This is an open access article distributed under the CC BY-NC 4.0 license.
Cite this article
TY - CONF AU - Zehong Di AU - Weijian Liu AU - Shen Gao AU - Hanfeng Zhang PY - 2022 DA - 2022/04/29 TI - Are Ideas Getting Harder to Find in the UK? BT - Proceedings of the 2022 7th International Conference on Social Sciences and Economic Development (ICSSED 2022) PB - Atlantis Press SP - 576 EP - 585 SN - 2352-5428 UR - https://doi.org/10.2991/aebmr.k.220405.095 DO - 10.2991/aebmr.k.220405.095 ID - Di2022 ER -