Внешние эффекты. Теорема Коуза
The paper provides a framework for analysis of optimal growth enhancing policy in the economy with market and government failures. It develops an endogenous growth model with strategic complementarities between R&D investments of firms and investments in training of households. The model generates two possible long-run equilibriums: no-growth poverty trap equilibrium and stable sustainable growth equilibrium. In the extended version of the model with government failures we assume that some part of government revenue is expropriated by rent seeking agents. With these conditions we analyze the possibility of transition from stagnation to growth induced by government investment subsidies and other factors.
The demand of public authority small business support results from the economic nature of SB market development. Facing all market failures (public goods, incompleteness of information, externalities, unfair competition) during the creation and development periods small enterprises are forced to mobilize additional resources. This leads to the underproduction, the slowdown in the rates of entrepreneurial institution growth and the reduction of it social role. Supporting the small business development public authorities perform public good production and creation of socially important functions of entrepreneurial institution.