Economic growth and technological change: an evolutionary interpretation
AbstractThis 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 Ã©conomique et changement technologique : Une interprÃ©tation Ã©volutionniste Ce document fournit la perspective de thÃ©orie Ã©conomique Ã©volutionniste sur les diffÃ©rences rÃ©centes de croissance entre les pays de lâOCDE. Lâanalyse empirique menÃ©e dans le rapport offre un certain nombre de rÃ©sultats. En premier lieu, les Ãtats-Unis semblent diverger des autres pays de lâOCDE, alors que ces derniers convergent, gÃ©nÃ©ralement, vers la moyenne de lâOCDE. DeuxiÃ¨mement, le modÃ¨le Ã©volutionniste de croissance estimÃ© suggÃ¨re que la convergence basÃ©e sur lâassimilation de la technologie Ã©trangÃ¨re devient un processus plus actif. La R-D semble maintenant Ãªtre cruciale pour rattraper un retard et nâest plus une activitÃ© qui vise systÃ©matiquement Ã dÃ©placer la frontiÃ¨re technologique du monde. TroisiÃ¨mement, les diffÃ©rences entre les pays en termes de compÃ©tences technologiques pures, câest-Ã -dire les dÃ©pÃ´ts de brevets, sont devenues plus importantes dans lâ
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Bibliographic InfoPaper provided by Eindhoven Center for Innovation Studies (ECIS) in its series Eindhoven Center for Innovation Studies (ECIS) working paper series with number 00.12.
Date of creation: 2000
Date of revision:
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Web page: http://ecis.ieis.tue.nl/
evolutionary economic theory; technological change; innovation; economic growth;
Other versions of this item:
- Verspagen, B., 2000. "Economic growth and technological change: an evolutionary interpretation," Working Papers 00.12, Eindhoven Center for Innovation Studies.
- Bart Verspagen, 2001. "Economic Growth and Technological Change: An Evolutionary Interpretation," OECD Science, Technology and Industry Working Papers 2001/1, OECD Publishing.
- NEP-ALL-2000-10-05 (All new papers)
- NEP-DEV-2000-10-05 (Development)
- NEP-EVO-2000-10-05 (Evolutionary Economics)
- NEP-INO-2000-10-05 (Innovation)
- NEP-TID-2000-10-05 (Technology & Industrial Dynamics)
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