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Technological Complexity and Economic Growth

  • Mihaela Iulia Pintea

    (Florida International University)

  • Peter Thompson

    (Florida International University)

Over the last fifty years there have been large secular increases in educational attainment and R&D intensity. The fact that these trends have not stimulated more rapid income growth has been a persistent puzzle for growth theorists. We construct a model of endogenous economic growth in which income growth, R&D intensity, and educational attainment depend on the complexity of new technologies. An increase in complexity that makes passive learning more difficult induces increases in R&D and education, alongside a decline in income growth. Our explanation also predicts a concurrent rise in the skill premium. (Copyright: Elsevier)

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Article provided by Elsevier for the Society for Economic Dynamics in its journal Review of Economic Dynamics.

Volume (Year): 10 (2007)
Issue (Month): 2 (April)
Pages: 276-293

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Handle: RePEc:red:issued:06-21
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