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The Weightless Economy in Economic Development

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  • Danny Quah
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    Abstract

    Can the increasing significance of knowledge-products in national income - the growing weightless economy - influence economic development? Those technologies reduce 'distance' between consumers and knowledge production. This paper analyzes a model embodying such a reduction. The model shows how demand-side attributes - consumer attitudes on complex goods; training, education, and skills for consumption (rather than production) - can importantly affect patterns of economic growth and development. Evidence from the failed Industrial Revolution in 14th-century China illustrates the empirical relevance of the analysis.

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    Bibliographic Info

    Paper provided by Centre for Economic Performance, LSE in its series CEP Discussion Papers with number dp0417.

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    Date of creation: Mar 1999
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    Handle: RePEc:cep:cepdps:dp0417

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    Web page: http://cep.lse.ac.uk/_new/publications/series.asp?prog=CEP

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    1. Aghion, P. & Howitt, P., 1990. "A Model Of Growth Through Creative Destruction," DELTA Working Papers 90-12, DELTA (Ecole normale supérieure).
    2. Danny Quah, 1996. "Twin peaks : growth and convergence in models of distribution dynamics," LSE Research Online Documents on Economics 2278, London School of Economics and Political Science, LSE Library.
    3. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages S71-102, October.
    4. Krusell, Per & Rios-Rull, Jose-Victor, 1996. "Vested Interests in a Positive Theory of Stagnation and Growth," Review of Economic Studies, Wiley Blackwell, vol. 63(2), pages 301-29, April.
    5. Danny Quah, 1996. "Twin Peaks: Growth and Convergence in Models of Distribution Dynamics," CEP Discussion Papers dp0280, Centre for Economic Performance, LSE.
    6. Quah, Danny, 1996. "Twin Peaks: Growth and Convergence in Models of Distribution Dynamics," CEPR Discussion Papers 1355, C.E.P.R. Discussion Papers.
    7. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
    8. David, Paul A, 1985. "Clio and the Economics of QWERTY," American Economic Review, American Economic Association, vol. 75(2), pages 332-37, May.
    9. Wright, Brian Davern, 1983. "The Economics of Invention Incentives: Patents, Prizes, and Research Contracts," American Economic Review, American Economic Association, vol. 73(4), pages 691-707, September.
    10. MacDonald, Glenn M, 1988. "The Economics of Rising Stars," American Economic Review, American Economic Association, vol. 78(1), pages 155-66, March.
    11. Rosen, Sherwin, 1981. "The Economics of Superstars," American Economic Review, American Economic Association, vol. 71(5), pages 845-58, December.
    12. Dasgupta, Partha, 1988. "Patents, Priority and Imitation or, the Economics of Races and Waiting Games," Economic Journal, Royal Economic Society, vol. 98(389), pages 66-80, March.
    13. Shaked, Avner & Sutton, John, 1982. "Relaxing Price Competition through Product Differentiation," Review of Economic Studies, Wiley Blackwell, vol. 49(1), pages 3-13, January.
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    Cited by:
    1. Andrés Rodríguez-Pose & Riccardo Crescenzi, 2008. "Mountains in a flat world: why proximity still matters for the location of economic activity," LSE Research Online Documents on Economics 23322, London School of Economics and Political Science, LSE Library.
    2. Keller, Wolfgang, 2009. "International Trade, Foreign Direct Investment, and Technology Spillovers," CEPR Discussion Papers 7503, C.E.P.R. Discussion Papers.
    3. Gern, Klaus-Jürgen & Gottschalk, Jan & Kamps, Christophe & Sander, Birgit & Scheide, Joachim & Strauß, Hubert, 2000. "Weltwirtschaft unter Volldampf," Open Access Publications from Kiel Institute for the World Economy 2499, Kiel Institute for the World Economy (IfW).
    4. Dalgaard, Carl-Johan & Strulik, Holger, 2011. "Energy distribution and economic growth," Resource and Energy Economics, Elsevier, vol. 33(4), pages 782-797.
    5. Humphreys, David, 2010. "The great metals boom: A retrospective," Resources Policy, Elsevier, vol. 35(1), pages 1-13, March.
    6. Carlo MENON, 2014. "La propagation des grandes idées? L\'impact de l\'activité de brevet des firmes leader sur les inventeurs locaux," Cahiers du GREThA 2014-11, Groupe de Recherche en Economie Théorique et Appliquée.
    7. Cigan, Heidi, 2002. "The internet's contribution to progress and growth in Germany: The economic impact of the internet and the price structure of access," HWWA Reports 216, Hamburg Institute of International Economics (HWWA).
    8. Oldenski, Lindsay, 2012. "Export Versus FDI and the Communication of Complex Information," Journal of International Economics, Elsevier, vol. 87(2), pages 312-322.

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