Alternative Theories on Economic Growth and the Co-evolution of Macro-Dynamics and Technological Change: A survey
AbstractThis paper aims to propose an approach to endogeneous growth considering the relationship between macro-dynamics and technical change. We draw upon two stream of literature: Cumulative causation and its macroscopic view of economic dynamics, and Evo-lutionary economics and its focus on micro-determinants of technical change. This paper presents a survey of the formal representation of the growth process and identifies the possible bridges between these two approaches. Our claim is that merging these two distinct theories might offer a framework to consider the co-evolution of macro-dynamics and technical change.
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Bibliographic InfoPaper provided by Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy in its series LEM Papers Series with number 2003/27.
Date of creation: 29 Dec 2003
Date of revision:
Economic Growth; Technical Change; Cumulative Causation; Evolutionary Theory.;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-04-11 (All new papers)
- NEP-DEV-2004-04-11 (Development)
- NEP-HPE-2004-04-11 (History & Philosophy of Economics)
- NEP-MAC-2004-04-11 (Macroeconomics)
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