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ISRN Economics
Volume 2013 (2013), Article ID 901096, 6 pages
http://dx.doi.org/10.1155/2013/901096
Research Article

A Model of Endogenous Growth: The Case of an Innovative Economy

1Laboratory CLERSE, University of Lille 1, Cité Scientifique, 59655 Villeneuve d’Ascq Cedex, France
2Faculty of Economics and Business Administration, West University of Timisoara, Strada J. H. Pestalozzi, Nr. 16, 300115 Timisoara, Romania

Received 5 August 2013; Accepted 14 November 2013

Academic Editors: D. M. Hanink, B. Junquera, Y. Shiftan, and J. Zarnikau

Copyright © 2013 Constantin Chilarescu and Ioana Viasu. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Abstract

The main aim of this paper is to bring some improvements to the model developed by Funke and Strulik, having as starting point the basic model proposed by Grossman and Helpman. We will prove that the competitive equilibrium solution is locally unique. Nevertheless, at least as regards the stability of equilibrium point, we confirm the results obtained by Funke and Strulik.