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Path Dependence, Endogenous Innovation and Growth

  • Stephen Redding

We consider a macroeconomic model of endogenous innovation and growth, in which technological progress is path dependent and technological lock-in may occur. These features of technological change are emphasised in the historical and microeconomic literatures, and are formalised here using a distinction between fundamental and secondary knowledge. Secondary knowledge spills over imperfectly across fundamental technologies, and the historical path of technological development is a central determinant of endogenous rates of technological change. Economic growth depends on the extent of secondary knowledge accumulation, and leapfrogging in cross-country levels of income per capita may occur.

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Paper provided by Centre for Economic Performance, LSE in its series CEP Discussion Papers with number dp0424.

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Date of creation: May 1999
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Handle: RePEc:cep:cepdps:dp0424
Contact details of provider: Web page: http://cep.lse.ac.uk/_new/publications/series.asp?prog=CEP

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  1. Brezis, Elise S & Krugman, Paul R & Tsiddon, Daniel, 1993. "Leapfrogging in International Competition: A Theory of Cycles in National Technological Leadership," American Economic Review, American Economic Association, vol. 83(5), pages 1211-19, December.
  2. Broadberry, S N, 1994. "Technological Leadership and Productivity Leadership in Manufacturing since the Industrial Revolution: Implications for the Convergence Debate," Economic Journal, Royal Economic Society, vol. 104(423), pages 291-302, March.
  3. Arthur, W Brian, 1989. "Competing Technologies, Increasing Returns, and Lock-In by Historical Events," Economic Journal, Royal Economic Society, vol. 99(394), pages 116-31, March.
  4. Parente Stephen L., 1994. "Technology Adoption, Learning-by-Doing, and Economic Growth," Journal of Economic Theory, Elsevier, vol. 63(2), pages 346-369, August.
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