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Endogenous Technical Change: The Evolution from Process Innovation to Product Innovation

In: Time and Space in Economics

Author

Listed:
  • Gang Gong

    (Tsinghua University)

Abstract

Summary A nonlinear growth model is presented that introduces technical innovations within a Harrodian growth framework. We first introduce product innovation into a standard Harrodian model. This resolves the knife-edge problem, whereas irregular growth cycles could occur with excess capacity. We then introduce process innovation. Bifurcation analysis shows that the model permits different structurally stable dynamics when the parameters go through some critical levels. Such a structural change in dynamics reflects an essential feature of endogenous technical change in the long run: the evolution from process innovation to product innovation.

Suggested Citation

  • Gang Gong, 2007. "Endogenous Technical Change: The Evolution from Process Innovation to Product Innovation," Springer Books, in: Toichiro Asada & Toshiharu Ishikawa (ed.), Time and Space in Economics, chapter 3, pages 41-54, Springer.
    • Handle: RePEc:spr:sprchp:978-4-431-45978-1_3
    DOI: 10.1007/978-4-431-45978-1_3
    as

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