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Localized technological change and factor markets: constraints and inducements to innovation

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  • Antonelli, Cristiano

Abstract

The recent advances in the economics of innovation and the analysis of how composition effects influence the introduction of technological change in a global economy, characterized by the variety of production functions in use and different local factor markets, provide new strength to the induced innovation approach. Developing the localized technological change approach, it is argued that because there are irreversibilities, limited knowledge and local learning, the introduction of new technologies is induced by the disequilibrium conditions brought about in each system by all changes in relative factor prices. The direction of technological change in terms of its specific form of bias and how it is introduced and adopted, however, reflects the specific conditions of local factor markets. Well-defined long-term technological paths emerge in each region and they depend on the selection process in product markets. The more rigid and idiosyncratic, the endowment of production factors and the system of relative prices are, the more specific the technological path of each region is likely to be. The divide between the microeconomic and the macroreconomic models of induced technological change is reconciled.

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Bibliographic Info

Article provided by Elsevier in its journal Structural Change and Economic Dynamics.

Volume (Year): 17 (2006)
Issue (Month): 2 (June)
Pages: 224-247

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Handle: RePEc:eee:streco:v:17:y:2006:i:2:p:224-247

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Web page: http://www.elsevier.com/locate/inca/525148

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References

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  1. Acemoglu, Daron, 2002. "Directed Technical Change," Review of Economic Studies, Wiley Blackwell, vol. 69(4), pages 781-809, October.
  2. Antonelli, Cristiano, 2001. "The Microeconomics of Technological Systems," OUP Catalogue, Oxford University Press, number 9780199245536.
  3. Atkinson, Anthony B & Stiglitz, Joseph E, 1969. "A New View of Technological Change," Economic Journal, Royal Economic Society, vol. 79(315), pages 573-78, September.
  4. D. Besomi, 1999. "Harrod on the classification of technological progress. The origin of a wild-goose chase," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 52(208), pages 95-117.
  5. Acemoglu, Daron, 1997. "Why Do New Technologies Complement Skills? Directed Technical Change and Wage Inequality," CEPR Discussion Papers 1707, C.E.P.R. Discussion Papers.
  6. Freeman, Chris, 1994. "The Economics of Technical Change," Cambridge Journal of Economics, Oxford University Press, vol. 18(5), pages 463-514, October.
  7. Broadberry,Steve N., 1997. "The Productivity Race," Cambridge Books, Cambridge University Press, number 9780521584401.
  8. Bresnahan, Timothy F. & Trajtenberg, M., 1995. "General purpose technologies 'Engines of growth'?," Journal of Econometrics, Elsevier, vol. 65(1), pages 83-108, January.
  9. Antonelli, Cristiano, 2003. "Localized Technological Change," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 200305, University of Turin.
  10. Antonelli, Cristiano, 1989. "A failure-inducement model of research and development expenditure : Italian evidence from the early 1980s," Journal of Economic Behavior & Organization, Elsevier, vol. 12(2), pages 159-180, October.
  11. Antonelli, Cristiano, 1986. "The international diffusion of new information technologies," Research Policy, Elsevier, vol. 15(3), pages 139-147, June.
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Citations

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Cited by:
  1. Cristiano Antonelli & Francesco Quatraro, 2014. "The effects of biased technological changes on total factor productivity: a rejoinder and new empirical evidence," The Journal of Technology Transfer, Springer, vol. 39(2), pages 281-299, April.
  2. Antonelli,Cristiano, 2013. "The economics of technological congruence," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 201304, University of Turin.
  3. Cristiano Antonelli & Francesco Quatraro, 2010. "The Effects of Biased Technological Change on Total Factor Productivity. Empirical Evidence from a Sample of OECD Countries," Post-Print halshs-00727618, HAL.
  4. Antonelli, Cristiano, 2008. "Pecuniary Externalities: the Convergence of Directed Technological Change and the Emergence of Innovation Systems," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 200807, University of Turin.
  5. Antonelli, Cristiano & Quatraro, Francesco, 2007. "Directed Technological Change and Total Factor Productivity. Effects and Determinants in a Sample of OECD Countries, 1971 – 2001," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 200711, University of Turin.
  6. Antonelli, Cristiano & Quatraro, Francesco, 2009. "Localized Technological Change and Efficiency Wages: the Evidence across European Regions," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 200907, University of Turin.
  7. Consoli, Davide & Vona, Francesco & Saarivirta, Toni, 2010. "An analysis of the Graduate Labour Market in Finland: the impact of Spatial Agglomeration and Skill-Job Mismatches," INGENIO (CSIC-UPV) Working Paper Series 201002, INGENIO (CSIC-UPV), revised 08 Sep 2011.
  8. Antonelli, Cristiano & Scellato, Giuseppe, 2009. "The Localized Introduction Of Biased Technological Change And Productivity Growth. The Empirical Evidence In The Italian Manufacturing Industry," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 200908, University of Turin.
  9. Yongbao Ji & Yanping Wang, 2014. "Some comments on Antonelli and Quatraro’s paper of measuring effect of biased technology on TFP," The Journal of Technology Transfer, Springer, vol. 39(2), pages 276-280, April.
  10. Feder, Christof, 2014. "Biased Technological Change: A contribution to the debate," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201404, University of Turin.
  11. Ulf Richter, 2010. "Liberal Thought in Reasoning on CSR," Journal of Business Ethics, Springer, vol. 97(4), pages 625-649, December.
  12. Antonelli, Cristiano, 2007. "Localized Appropriability: Pecuniary Externalities in Knowledge Exploitation," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 200710, University of Turin.

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