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How to Promote R&D-based Growth? Public Education Expenditure on
Scientists and Engineers versus R&D Subsidies
The paper develops a quality-ladder growth model with overlapping generations, which evaluates the positive and normative implications of research and development (R&D) subsidies and compares them with the effects of public education policy to promote R&D.
Link
http://www.cesifo.de/~DocCIDL/1225.pdf