Evolutionary Micro-dynamics and Changes in the Economic Structure
AbstractThe paper develops a growth model with evolutionary micro–founded structural change. The model endogenises both technical change and changes in final and intermediate demand as affecting macro-economic growth, through the structural change of the economy. The aim is to formally account for the empirical stylised fact of the changes in the sectoral structure of the economy which have led to the growth of ser-vices in most advanced countries over the last decades. At the meso-macro level of analysis, we investigate whether the structural changes leading to the growth of services are mainly demand-led, both in terms of final consumption and intermediate demand. At the micro-level of analysis, we explore whether demand constraints affect the degree of exploitation of technological opportunities. The simulated results are based on the use of the actual Input–Output coefficients in the case of Germany. Four scenarios have been identified, which account for the effects of a set of key parameters on the changes in the structure of the economy.
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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 2006/28.
Date of creation: 03 Nov 2006
Date of revision:
Economic Growth; Structural change; Growth of Services; Evolutionary Micro–foundation; Input–Output;
Other versions of this item:
- André Lorentz & Maria Savona, 2008. "Evolutionary micro-dynamics and changes in the economic structure," Journal of Evolutionary Economics, Springer, vol. 18(3), pages 389-412, August.
- AndrÃ© Lorentz & Maria Savona, 2007. "Evolutionary Micro-dynamics and Changes in the Economic Structure," Papers on Economics and Evolution 2007-17, Max Planck Institute of Economics, Evolutionary Economics Group.
- E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Institutional; Evolutionary
- L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
- O14 - Economic Development, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
- O33 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
- 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-2006-11-18 (All new papers)
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