Cumulative Causation and Evolutionary Micro-Founded Technical Change. On the Determinants of Growth rate Differences
We develop in this paper an alternative approach to the New Growth Theory to analyse growth rate differences among integrated economies. The model presented here considers economic growth as a disequilibrium process. It introduces in a cumulative causation framework, micro-founded process of technical change taking into account elements rooted in evolutionary and Neo-Austrian literature. We then attempt to open the ??Kaldor-Verdoorn law black-box?? using a microlevel modelling of industrial dynamics.We use this framework to study the nature and sources of growth rate differences among economies, focusing on the effect of some macroeconomic parameters and of some technological parameters. If the results remain broadly in Kaldorian lines, this framework allows for more subtle patterns of growth rate difference.
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- André Lorentz & Patrick Llerena, 2004. "Co-Evolution of Macro-Dynamics and Technological Change : an Alternative View on Growth," Revue d'Économie Industrielle, Programme National Persée, vol. 105(1), pages 47-70.
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DRUID Working Papers
00-1, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
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- repec:cup:cbooks:9780521017039 is not listed on IDEAS
- Dixon, R & Thirlwall, A P, 1975. "A Model of Regional Growth-Rate Differences on Kaldorian Lines," Oxford Economic Papers, Oxford University Press, vol. 27(2), pages 201-14, July.
- Miguel A. León-Ledesma, 2000. "Cumulative Growth and the Catching-up Debate from a Dis-equilibrium Standpoint," Studies in Economics 0001, School of Economics, University of Kent.
- G. Silverberg & B. Verspagen, 1995. "Evolutionary Theorizing on Economic Growth," Working Papers wp95078, International Institute for Applied Systems Analysis.
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