SUSTAINED GROWTH DRIVEN BY MULTIPLE, CO-EXISTING GPTs
AbstractThe model incorporates characteristics of general purpose technologies established empirically but not currently modeled: GPTs occur simultaneously in several technology "classes," such as ICTs and materials; different "versions" of each class often compete with each other; GPTs of different classes complement each other; uncertainty is associated with GPT development and diffusion. The model's three sectors produce consumption goods using applied knowledge, applied knowledge using GPTs, and pure knowledge that occasionally discovers a new GPT whose efficiency increases as it diffuses. The model allows for competition between, and complementarities among GPTs, replicates accepted growth facts and is useful for policy analysis.
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Bibliographic InfoPaper provided by Department of Economics, Simon Fraser University in its series Discussion Papers with number dp07-17.
Date of creation: Sep 2007
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Find related papers by JEL classification:
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-09-30 (All new papers)
- NEP-INO-2007-09-30 (Innovation)
- NEP-KNM-2007-09-30 (Knowledge Management & Knowledge Economy)
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- Fulvio Castellacci, 2010.
"Structural Change And The Growth Of Industrial Sectors: Empirical Test Of A Gpt Model,"
Review of Income and Wealth,
International Association for Research in Income and Wealth, vol. 56(3), pages 449-482, 09.
- Castellacci, Fulvio, 2008. "Structural change and the growth of industrial sectors: empirical test of a GPT model," MPRA Paper 27592, University Library of Munich, Germany.
- Kenneth Carlaw & Richard Lipsey, 2011. "Sustained endogenous growth driven by structured and evolving general purpose technologies," Journal of Evolutionary Economics, Springer, vol. 21(4), pages 563-593, October.
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