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Modeling economic growth fuelled by science and technology

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Author Info

  • Américo Tristão Bernardes

    (UFOP)

  • Ricardo Machado Ruiz

    (Cedeplar-UFMG)

  • Leonardo Costa Ribeiro

    (UFMG)

  • Eduardo da Motta e Albuquerque

    (Cedeplar-UFMG)

Abstract

This paper suggests a simulation model to investigate how science and technology fuel economic growth. This model is built upon a synthesis of technological capabilities represented by national innovation systems. This paper gathers data of papers and patents for 183 countries between 1999 and 2003, GDP and population for 2003. These data show a strong correlation between science, technology and income. Three simulation exercises are performed. Feeding our algorithm with data for population, patents and scientific papers, we obtain the world income distribution (R=0.99). These results support our conjecture on the role of science and technology as a source of the wealth of nations.

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Bibliographic Info

Paper provided by Cedeplar, Universidade Federal de Minas Gerais in its series Textos para Discussão Cedeplar-UFMG with number td294.

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Length: 15 pages
Date of creation: Aug 2006
Date of revision:
Handle: RePEc:cdp:texdis:td294

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Related research

Keywords: simulation models; systems of innovation; economic growth;

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References

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  1. Silverberg, G. & Verspagen, B., 2002. "A Percolation Model of Innovation in Complex Technology Spaces," Working Papers 02.12, Eindhoven Center for Innovation Studies.
  2. Richard R. Nelson, 1995. "Recent Evolutionary Theorizing about Economic Change," Journal of Economic Literature, American Economic Association, vol. 33(1), pages 48-90, March.
  3. Richard R. Nelson, 2006. "Economic Development from the Perspective of Evolutionary Economic Theory," The Other Canon Foundation and Tallinn University of Technology Working Papers in Technology Governance and Economic Dynamics 02, TUT Ragnar Nurkse School of Innovation and Governance.
  4. S.G. Winter & Y.M. Kaniovski & G. Dosi, 1998. "Modeling Industrial Dynamics with Innovative Entrants," Working Papers ir98022, International Institute for Applied Systems Analysis.
  5. Giovanni Dosi & Christopher Freeman & Richard Nelson & Gerarld Silverberg & Luc Soete (ed.), 1988. "Technical Change and Economic Theory," LEM Book Series, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy, number dosietal-1988, June.
  6. Richard R. Nelson & Sidney G. Winter, 2002. "Evolutionary Theorizing in Economics," Journal of Economic Perspectives, American Economic Association, vol. 16(2), pages 23-46, Spring.
  7. Nelson, Richard R, 1998. "The Agenda for Growth Theory: A Different Point of View," Cambridge Journal of Economics, Oxford University Press, vol. 22(4), pages 497-520, July.
  8. Chris Freeman & Luc Soete, 1997. "The Economics of Industrial Innovation, 3rd Edition," MIT Press Books, The MIT Press, edition 3, volume 1, number 0262061953, December.
  9. Silverberg, Gerald & Dosi, Giovanni & Orsenigo, Luigi, 1988. "Innovation, Diversity and Diffusion: A Self-organisation Model," Economic Journal, Royal Economic Society, vol. 98(393), pages 1032-54, December.
  10. Dosi, Giovanni, 1997. "Opportunities, Incentives and the Collective Patterns of Technological Change," Economic Journal, Royal Economic Society, vol. 107(444), pages 1530-47, September.
  11. Dosi, Giovanni, 1988. "Sources, Procedures, and Microeconomic Effects of Innovation," Journal of Economic Literature, American Economic Association, vol. 26(3), pages 1120-71, September.
  12. Bernardes, Americo Tristao & Albuquerque, Eduardo da Motta e, 2003. "Cross-over, thresholds, and interactions between science and technology: lessons for less-developed countries," Research Policy, Elsevier, vol. 32(5), pages 865-885, May.
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