Evolutionary micro-dynamics and changes in the economic structure
AbstractThe paper develops a growth model with evolutionary microâfounded structural change. The model endogenises both technical change and changes in final and intermediate demand as affecting macro-economic growth, through the structural change of the economy. The aim is to formally account for the empirical stylised fact of the changes in the sectoral structure of the economy which have led to the growth of ser-vices in most advanced countries over the last decades. At the meso-macro level of analysis, we investigate whether the structural changes leading to the growth of services are mainly demand-led, both in terms of final consumption and intermediate demand. At the micro-level of analysis, we explore whether demand constraints affect the degree of exploitation of technological opportunities. The simulated results are based on the use of the actual InputâOutput coefficients in the case of Germany. Four scenarios have been identified, which account for the effects of a set of key parameters on the changes in the structure of the economy.
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Bibliographic InfoArticle provided by Springer in its journal Journal of Evolutionary Economics.
Volume (Year): 18 (2008)
Issue (Month): 3 (August)
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Web page: http://link.springer.de/link/service/journals/00191/index.htm
Other versions of this item:
- AndrÃ© Lorentz & Maria Savona, 2007. "Evolutionary Micro-dynamics and Changes in the Economic Structure," Papers on Economics and Evolution 2007-17, Max Planck Institute of Economics, Evolutionary Economics Group.
- André Lorentz & Maria Savona, 2006. "Evolutionary Micro-dynamics and Changes in the Economic Structure," LEM Papers Series 2006/28, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
- E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Institutional; Evolutionary
- L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
- O14 - Economic Development, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
- O33 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
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