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A Non-linear Development Dynamics of Capital Accumulation, Distribution and Technological Innovation

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Author Info
Gilberto Tadeu Lima (FEA-USP)
Abstract

It is elaborated a development dynamic model of accumulation, growth and distribution in which endogenous technological innovation plays a significant role. Firms’ rate of labour-saving technological innovation is made to depend non-linearly on the distributive (wage and profit) shares, with the latter determining both the incentives to innovate and the availability of funding to carry it out. As it turns out, the direction and the intensity of the effect of a change in distribution on the rates of accumulation and growth depend on the prevailing distribution, with a similar dependence applying – alongside the relative bargaining power of capitalists and workers – to the dynamic stability properties of the system. Hence, the model does not rely on full capacity utilisation being reached for a change in the accumulation and growth regime to take place.

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Paper provided by ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics] in its series Anais do XXXI Encontro Nacional de Economia [Proceedings of the 31th Brazilian Economics Meeting] with number b05.

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Date of creation: 2003
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Handle: RePEc:anp:en2003:b05

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Related research
Keywords: capital accumulation distribution technological innovation

Find related papers by JEL classification:
O1 - Economic Development, Technological Change, and Growth - - Economic Development
O3 - Economic Development, Technological Change, and Growth - - Technological Change
O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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  8. Benabou, R., 1996. "Inequality and Growth," Working Papers 96-22, C.V. Starr Center for Applied Economics, New York University. [Downloadable!]
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  9. You, Jong-Il, 1994. "Macroeconomic Structure, Endogenous Technical Change and Growth," Cambridge Journal of Economics, Oxford University Press, vol. 18(2), pages 213-34, April.
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  11. 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. [Downloadable!] (restricted)
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