Market concentration and technological innovation in a dynamic model of growth and distribution
AbstractThis paper develops a post Keynesian macromodel of growth and distribution in which endogenous technological innovation plays a pivotal role. The innovationrate is made quadratic in market concentration, to capture a plausible neo-Schumpeterian non-linear influence of market structure on firms' propensity to innovate. Concentration is endogenous, though, since under neo-Schumpeterian competition the relation between market structure and technical change cuts both ways. Investment will then be non-linear in concentration, and the effect of changes in concentration on capacity utilisation, growth and distribution will depend on the level of concentration. Demand also plays a role, with capacity utilisation andgrowth rising with the wage share. The dynamic stability properties of the system will depend on the direction and relative strength of the technological innovation effects with respect to the demand ones, and on the relative bargaining power of workers and capitalists.
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Bibliographic InfoArticle provided by Banca Nazionale del Lavoro in its journal Banca Nazionale del Lavoro Quarterly Review.
Volume (Year): 53 (2000)
Issue (Month): 215 ()
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Other versions of this item:
- Gilberto Tadeu Lima, 2000. "Market concentration and technological innovation in a dynamic model of growth and distribution," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 53(215), pages 447-475.
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
- E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution
- O32 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Management of Technological Innovation and R&D
- L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
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- Gilberto Tadeu Lima, 2003. "A Non-linear Development Dynamics of Capital Accumulation, Distribution and Technological Innovation," Anais do XXXI Encontro Nacional de Economia [Proceedings of the 31th Brazilian Economics Meeting] b05, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
- Niels Krap & Johannes Stephan, 2008. "The Relationship between Knowledge Intensity and Market Concentration in European Industries: An inverted U-Shape," IWH Discussion Papers 3, Halle Institute for Economic Research.
- Antonio J.A. Meirelles & Gilberto Tadeu Lima, 2006.
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- Hein, Eckhard, 2009. "Financialisation', distribution, capital accumulation and productivity growth in a Post-Kaleckian model," IPE Working Papers 01/2009, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
- Gilberto Tadeu Lima & Antonio J. A. Meirelles, 2007.
"Macrodynamics of debt regimes, financial instability and growth,"
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Oxford University Press, vol. 31(4), pages 563-580, July.
- Gilberto Tadeu Lima & Antonio J. A. Meirelles, 2004. "A Macrodynamics Of Debt Regimes, Financial Instability And Growth," Anais do XXXII Encontro Nacional de Economia [Proceedings of the 32th Brazilian Economics Meeting] 074, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
- Fabrício Missio & Frederico Jayme Jr & Gustavo Britto & José Luis Oreiro, 2013. "Real Exchange Rate and Economic Growth: new empirical evidence," Textos para DiscussÃ£o Cedeplar-UFMG 482, Cedeplar, Universidade Federal de Minas Gerais.
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