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Evolutionary Micro-dynamics and Changes in the Economic Structure

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  • André Lorentz
  • Maria Savona

Abstract

The 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 Info

Paper 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.

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Date of creation: 03 Nov 2006
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Handle: RePEc:ssa:lemwps:2006/28

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Keywords: Economic Growth; Structural change; Growth of Services; Evolutionary Micro–foundation; Input–Output;

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References

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  1. Henk Kox & Luis Rubalcaba, 2007. "Analysing the Contribution of Business Services to European Economic Growth," Bruges European Economic Research Papers 9, European Economic Studies Department, College of Europe.
  2. Giovanni Dosi & Christopher Freeman & Richard Nelson & Gerarld Silverberg & Luc Soete (ed.), 1988. "Technical Change and Economic Theory," LEM Book Series, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy, number dosietal-1988, June.
  3. Giulio Cainelli & Rinaldo Evangelista & Maria Savona, 2006. "Innovation and economic performance in services: a firm-level analysis," Cambridge Journal of Economics, Oxford University Press, vol. 30(3), pages 435-458, May.
  4. Michael Peneder & Serguei Kaniovski & Bernhard Dachs, 2003. "What follows tertiarisation? structural change and the role of knowledge-based services," The Service Industries Journal, Taylor & Francis Journals, vol. 23(2), pages 47-66, March.
  5. G. Silverberg & B. Verspagen, 1995. "Evolutionary Theorizing on Economic Growth," Working Papers wp95078, International Institute for Applied Systems Analysis.
  6. Verspagen, B., 2000. "Growth and structural change: trends, patterns and policy options," Eindhoven Center for Innovation Studies (ECIS) working paper series 00.08, Eindhoven Center for Innovation Studies (ECIS).
  7. Schettkat, Ronald & Yocarini, Lara, 2006. "The shift to services employment: A review of the literature," Structural Change and Economic Dynamics, Elsevier, vol. 17(2), pages 127-147, June.
  8. Parrinello, Sergio, 2004. "The service economy revisited," Structural Change and Economic Dynamics, Elsevier, vol. 15(4), pages 381-400, December.
  9. Verspagen, B., 2002. "Structural Change and Technology. A Long View," Working Papers 02.13, Eindhoven Center for Innovation Studies.
  10. Maria Savona & André Lorentz, 2005. "Demand and Technology Determinants of Structural Change and Tertiarisation: An Input-Output Structural Decomposition Analysis for four OECD Countries," LEM Papers Series 2005/25, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
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Cited by:
  1. Benoît Desmarchelier & Faïz Gallouj, 2013. "Endogenous growth and environmental policy: are the processes of growth and tertiarization in developed economies reversible?," Journal of Evolutionary Economics, Springer, vol. 23(4), pages 831-860, September.
  2. Tommaso Ciarli & André Lorentz & Maria Savona & Marco Valente, 2008. "The Effect of Consumption and Production Structure on Growth and Distribution. A Micro to Macro Model," Papers on Economics and Evolution 2008-13, Max Planck Institute of Economics, Evolutionary Economics Group.

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