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Economic growth and technological change: an evolutionary interpretation

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Author Info

  • Verspagen, B.

    (ECIS, Technical University of Eindhoven)

Abstract

This paper provides a perspective from evolutionary economic theory on recent growth differences in the OECD area. The empirical analysis contained in the paper offers a number of findings. First, the United States seems to be diverging from the other OECD countries, while the latter are still, by and large, converging to the OECD average. Second, the estimated model of evolutionary growth suggests that convergence based on the assimilation of foreign technology is becoming a more active process. R&D now seems to be crucial for catching-up and is no longer an activity that is unequivocally associated with moving the world technological frontier. Third, differences between countries in terms of pure technological competencies, i.e. patenting, have become more important in explaining growth differentials. These trends suggest that the absorption of foreign technology requires more active efforts, and that technological differences between countries translate more easily ... Croissance économique et changement technologique : Une interprétation évolutionniste Ce document fournit la perspective de théorie économique évolutionniste sur les différences récentes de croissance entre les pays de l’OCDE. L’analyse empirique menée dans le rapport offre un certain nombre de résultats. En premier lieu, les États-Unis semblent diverger des autres pays de l’OCDE, alors que ces derniers convergent, généralement, vers la moyenne de l’OCDE. Deuxièmement, le modèle évolutionniste de croissance estimé suggère que la convergence basée sur l’assimilation de la technologie étrangère devient un processus plus actif. La R-D semble maintenant être cruciale pour rattraper un retard et n’est plus une activité qui vise systématiquement à déplacer la frontière technologique du monde. Troisièmement, les différences entre les pays en termes de compétences technologiques pures, c’est-à-dire les dépôts de brevets, sont devenues plus importantes dans lâ€

(This abstract was borrowed from another version of this item.)

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Bibliographic Info

Paper provided by Eindhoven Center for Innovation Studies (ECIS) in its series Eindhoven Center for Innovation Studies (ECIS) working paper series with number 00.12.

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Date of creation: 2000
Date of revision:
Handle: RePEc:dgr:tuecis:0012

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Web page: http://ecis.ieis.tue.nl/

Related research

Keywords: evolutionary economic theory; technological change; innovation; economic growth;

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References

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  1. Elhanan Helpman & Manuel Trajtenberg, 1994. "A Time to Sow and a Time to Reap: Growth Based on General Purpose Technologies," NBER Working Papers 4854, National Bureau of Economic Research, Inc.
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  9. Philippe Aghion & Peter Howitt, 1990. "A Model of Growth Through Creative Destruction," NBER Working Papers 3223, National Bureau of Economic Research, Inc.
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  12. Fagerberg, Jan, 1987. "A technology gap approach to why growth rates differ," Research Policy, Elsevier, vol. 16(2-4), pages 87-99, August.
  13. Sergio T. Rebelo, 1992. "Long Run Policy Analysis and Long Run Growth," NBER Working Papers 3325, National Bureau of Economic Research, Inc.
  14. Cohen, Wesley M & Levinthal, Daniel A, 1989. "Innovation and Learning: The Two Faces of R&D," Economic Journal, Royal Economic Society, vol. 99(397), pages 569-96, September.
  15. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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  17. Samuel S. Kortum, 1997. "Research, Patenting, and Technological Change," Econometrica, Econometric Society, vol. 65(6), pages 1389-1420, November.
  18. Baumol, William J, 1986. "Productivity Growth, Convergence, and Welfare: What the Long-run Data Show," American Economic Review, American Economic Association, vol. 76(5), pages 1072-85, December.
  19. Stephen D. Oliner & Daniel E. Sichel, 1994. "Computers and Output Growth Revisited: How Big Is the Puzzle?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 25(2), pages 273-334.
  20. Jan Fagerberg & Bart Verspagen, 1996. "Heading for Divergence? Regional Growth in Europe Reconsidered," Journal of Common Market Studies, Wiley Blackwell, vol. 34(3), pages 431-448, 09.
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Citations

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Cited by:
  1. Ballot, Gerard & Taymaz, Erol, 2001. "Training policies and economic growth in an evolutionary world," Structural Change and Economic Dynamics, Elsevier, vol. 12(3), pages 311-329, September.
  2. Pop Silaghi, Monica Ioana & Alexa, Diana & Jude, Cristina & Litan, Cristian, 2014. "Do business and public sector research and development expenditures contribute to economic growth in Central and Eastern European Countries? A dynamic panel estimation," Economic Modelling, Elsevier, vol. 36(C), pages 108-119.
  3. Stefano Brusoni & Elena Cefis & Luigi Orsenigo, 2006. "Innovate or Die? A critical review of the literature on innovation and performance," KITeS Working Papers 179, KITeS, Centre for Knowledge, Internationalization and Technology Studies, Universita' Bocconi, Milano, Italy, revised Sep 2006.
  4. Sandra Silva, 2004. "On evolutionary technological change and economic growth: Lakatos as a starting point for appraisal," FEP Working Papers 139, Universidade do Porto, Faculdade de Economia do Porto.
  5. Michael Peneder, 2004. "Tracing Empirical Trails of Schumpeterian Development," Papers on Economics and Evolution 2004-09, Max Planck Institute of Economics, Evolutionary Economics Group.
  6. Kravtsova, Victoria & Radosevic, Slavo, 2012. "Are systems of innovation in Eastern Europe efficient?," Economic Systems, Elsevier, vol. 36(1), pages 109-126.

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