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The dynamics of firms in a micro-to-macro model: The role of training, learning and innovation

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Author Info

  • Erol Taymaz

    ()
    (Middle East Technical University, Ankara, Turkey)

  • G, rard Ballot

    ()
    (Universit, Panth, on-Assas & ERMES-CNRS, 92, rue d'Assas, F-75270 Paris, France)

Abstract

We analyze the co-evolution of the performances of firms and of the economy in an evolutionary micro-to-macro model of the Swedish economy. The model emphasizes the interactions between human capital (or competences) and technological change at the firm level and their effects on aggregate growth, taking into account the micro-macro feedbacks. The model features learning-by-doing, incremental and radical innovations, user-producer learning at the firm level, and a change in the techno-economic paradigm. We find that there is an optimal sequence for the firm to allocate their resources: (1) build a general human capital stock before the change in the techno-economic paradigm, (2) spend on R&D, and (3) invest in specific human capital. Innovators fare better than imitators on average, not only because they innovate, but also because they build a competence base, which supports the learning from other firms.

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Bibliographic Info

Article provided by Springer in its journal Journal of Evolutionary Economics.

Volume (Year): 7 (1997)
Issue (Month): 4 ()
Pages: 435-457

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Handle: RePEc:spr:joevec:v:7:y:1997:i:4:p:435-457

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Related research

Keywords: Evolutionary theory ; Endogeneous growth ; Human capital ; Innovation ; Diffusion ; Learning ; Artificial intelligence ; Microsimulation;

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Cited by:
  1. David B. Audretsch & Dirk Dohse, 2007. "Location: A Neglected Determinant of Firm Growth," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 143(1), pages 79-107, April.
  2. Heshmati, Almas & Lenz-Cesar, Flávio, 2013. "Determinants and Policy Simulation of Firms Cooperation in Innovation," IZA Discussion Papers 7487, Institute for the Study of Labor (IZA).
  3. Dittrich, Koen & Duysters, Geert & de Man, Ard-Pieter, 2007. "Strategic repositioning by means of alliance networks: The case of IBM," Research Policy, Elsevier, vol. 36(10), pages 1496-1511, December.
  4. Grazzini, Jakob & Richiardi, Matteo, 2013. "Consistent Estimation of Agent-Based Models by Simulated Minimum Distance," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201335, University of Turin.
  5. Thomas Hedner & Hanadi Almubaraki & Michael Busler & Adli Abouzeedan, 2011. "Business and Technology Incubators and their Role in the Nordic Countries in Comparison to the GCC countries: An Analysis of Current Affairs," ERSA conference papers ersa10p1283, European Regional Science Association.
  6. Adli Abouzeedan & Boo Edgar & Thomas Hedner, 2011. "Can Innovation Enhance Entrepreneurial Activities of a Region? An Analysis Utilizing the Entrepreneurial Remedy Model (EREM)," ERSA conference papers ersa10p1277, European Regional Science Association.

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