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Structural change, sectoral specialisation and growth rate differences in an evolutionary growth model with demand shocks

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  • André Lorentz

Abstract

The paper develops a multi-sectoral growth model that links a Post-Keynesian macro-framework to an evolutionary modelling of technical change and industrial dynamics. Following Pasinetti 1981 and Verspagen 1993, we assume that sectors are integrated such that the dynamics of each sectors? demand are interdependent, and co-evolving. Technical change mechanisms are directly inspired by evolutionary models of growth and industrial dynamics. Lorentz 2007 shows that the structure of the demand characteristics shape the structure of the economies influencing directly specialization patterns and growth rates differences among economies. The aim of this paper is to show that the introduction of satiation levels à la Pasinetti limits this effect. Hence both sectorial specialization and growth rates differences tend to disappear when the satiation levels are reached. In other words, these macro-patterns appear to be highly dependent on the persistence of structural change. JEL Codes: O41, O33, E11, F43

Suggested Citation

  • André Lorentz, 2015. "Structural change, sectoral specialisation and growth rate differences in an evolutionary growth model with demand shocks," Journal of Innovation Economics, De Boeck Université, vol. 0(1), pages 217-248.
  • Handle: RePEc:cai:jiedbu:jie_016_0217
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    Citations

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    Cited by:

    1. André Lorentz & Tommaso Ciarli & Maria Savona & Marco Valente, 2016. "The effect of demand-driven structural transformations on growth and technological change," Journal of Evolutionary Economics, Springer, vol. 26(1), pages 219-246, March.
    2. Giovanni Dosi & Andrea Roventini & Emanuele Russo, 2017. "Endogenous growth and global divergence in a multi-country agent-based model," LEM Papers Series 2017/32, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.

    More about this item

    Keywords

    Structural Change; Economic Growth; Technical Change; Cumulative Causation; Evolutionary Modelling;

    JEL classification:

    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies

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