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Path Dependence, Endogenous Innovation and Growth

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  • Stephen Redding

Abstract

We consider a macroeconomic model of endogenous innovation and growth, in which technological progress is path dependent and technological lock-in may occur. These features of technological change are emphasised in the historical and microeconomic literatures, and are formalised here using a distinction between fundamental and secondary knowledge. Secondary knowledge spills over imperfectly across fundamental technologies, and the historical path of technological development is a central determinant of endogenous rates of technological change. Economic growth depends on the extent of secondary knowledge accumulation, and leapfrogging in cross-country levels of income per capita may occur.

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Bibliographic Info

Paper provided by Centre for Economic Performance, LSE in its series CEP Discussion Papers with number dp0424.

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Date of creation: May 1999
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Handle: RePEc:cep:cepdps:dp0424

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

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Cited by:
  1. Ghosh, Arghya & Kato, Takao & Morita, Hodaka, 2007. "Discrete Innovation, Continuous Improvement, and Competitive Pressure," IZA Discussion Papers 3132, Institute for the Study of Labor (IZA).
  2. Kverndokk, Snorre & Rosendahl, Knut Einar, 2007. "Climate policies and learning by doing: Impacts and timing of technology subsidies," Resource and Energy Economics, Elsevier, vol. 29(1), pages 58-82, January.
  3. Schlegel, Christoph, 2004. "Analytical and Numerical Solution of a Poisson RBC model," Dresden Discussion Paper Series in Economics 05/04, Dresden University of Technology, Faculty of Business and Economics, Department of Economics.
  4. Horii, Ryo, 2012. "Wants and past knowledge: Growth cycles with emerging industries," Journal of Economic Dynamics and Control, Elsevier, vol. 36(2), pages 220-238.
  5. Klaus Wälde, 2005. "Endogenous Growth Cycles," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 46(3), pages 867-894, 08.
  6. Kverndokk, Snorre & Rosendahl, Knut Einar & Rutherford, Thomas F., 2004. "Climate policies and induced technological change: Impacts and timing of technology subsidies," Memorandum 05/2004, Oslo University, Department of Economics.
  7. Maki, Taichi & Yotsuya, Koichi & Yagi, Tadashi, 2005. "Economic growth and the riskiness of investment in firm-specific skills," European Economic Review, Elsevier, vol. 49(4), pages 1033-1049, May.
  8. Gartland, Myles P., 2005. "Interdisciplinary views of sub-optimal outcomes: Path dependence in the social and management sciences," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 34(5), pages 686-702, October.
  9. Suk Choi & Christopher Williams, 2014. "The impact of innovation intensity, scope, and spillovers on sales growth in Chinese firms," Asia Pacific Journal of Management, Springer, vol. 31(1), pages 25-46, March.

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