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New Combinations and Growth

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  • Juergen Antony

Abstract

This paper develops an endogenous growth model based on the idea of new combinations of input factors as a growth mechanism. The model integrates the idea of several technologies used simultaneously in producing final output. Innovations are of the horizontal and vertical type and in addition of the type of new technologies which can be combined with existing ones. All types of innovations are endogenous and the occurrence of a new technology has stochastic elements as well. This leads to endogenous dynamics in growth rates of final output production.

Suggested Citation

  • Juergen Antony, 2007. "New Combinations and Growth," Working Papers 017, Bavarian Graduate Program in Economics (BGPE).
    • Handle: RePEc:bav:wpaper:017_antony
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    References listed on IDEAS

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    1. Klevorick, Alvin K. & Levin, Richard C. & Nelson, Richard R. & Winter, Sidney G., 1995. "On the sources and significance of interindustry differences in technological opportunities," Research Policy, Elsevier, vol. 24(2), pages 185-205, March.
    2. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth through Creative Destruction," Econometrica, Econometric Society, vol. 60(2), pages 323-351, March.
    3. repec:adr:anecst:y:1998:i:49-50:p:02 is not listed on IDEAS
    4. Philippe Aghion & Peter Howitt, 1999. "On the Macroeconomic Effects of Major Technological Change," Nordic Journal of Political Economy, Nordic Journal of Political Economy, vol. 25, pages 15-32.
    5. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 71-102, October.
    6. Romer, Paul M, 1987. "Growth Based on Increasing Returns Due to Specialization," American Economic Review, American Economic Association, vol. 77(2), pages 56-62, May.
    7. Alwyn Young, 1998. "Growth without Scale Effects," Journal of Political Economy, University of Chicago Press, vol. 106(1), pages 41-63, February.
    8. Jones, Charles I, 1995. "R&D-Based Models of Economic Growth," Journal of Political Economy, University of Chicago Press, vol. 103(4), pages 759-784, August.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

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    JEL classification:

    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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