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SUSTAINED GROWTH DRIVEN BY MULTIPLE, CO-EXISTING GPTs

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Abstract

The 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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File URL: http://www.sfu.ca/econ-research/RePEc/sfu/sfudps/dp07-17.pdf
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Bibliographic Info

Paper provided by Department of Economics, Simon Fraser University in its series Discussion Papers with number dp07-17.

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Length: 32
Date of creation: Sep 2007
Date of revision:
Handle: RePEc:sfu:sfudps:dp07-17

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Postal: Department of Economics, Simon Fraser University, 8888 University Drive, Burnaby, BC, V5A 1S6, Canada
Phone: (778)782-3508
Fax: (778)782-5944
Web page: http://www.sfu.ca/economics.html
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Postal: Working Paper Coordinator, Department of Economics, Simon Fraser University, 8888 University Drive, Burnaby, BC, V5A 1S6, Canada
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Web: http://www.sfu.ca/economics/research/publications.html

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Keywords: General purpose technologies (GPTs); diffusion; efficiency; growth; R&D.;

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Cited by:
  1. 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.
  2. 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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