An evolutionary model of industrial growth and structural change
AbstractThis paper explores the rules which regulate market shares dynamics within industries jointly with the mechanisms underpinning a process of general evolution in which n sectors grow at different rates and structural change takes place. It introduces a selection equation, which allows for selection within and between sectors and explores the forces that can account for the differential growth of different industries. Sectoral and aggregate productivity growth rates depend upon a sorting and a selection mechanism between and within sectors, which continuously changes the relative position of competing firms. This paper generalises Metcalfeâs Fisher Principle (Metcalfe, 1998) results to a multi-sectoral economy.
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Bibliographic InfoArticle provided by Elsevier in its journal Structural Change and Economic Dynamics.
Volume (Year): 13 (2002)
Issue (Month): 4 (December)
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Web page: http://www.elsevier.com/locate/inca/525148
Other versions of this item:
- Fabio Montobbio, 2000. "An Evolutionary Model of Industrial Growth and Structural Change," KITeS Working Papers 121, KITeS, Centre for Knowledge, Internationalization and Technology Studies, Universita' Bocconi, Milano, Italy, revised Nov 2000.
- L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
- O30 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - General
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
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