Path Dependence, Endogenous Innovation and Growth
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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|Date of creation:||May 1999|
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- Parente Stephen L., 1994. "Technology Adoption, Learning-by-Doing, and Economic Growth," Journal of Economic Theory, Elsevier, vol. 63(2), pages 346-369, August.
- Broadberry, S N, 1994.
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Royal Economic Society, vol. 104(423), pages 291-302, March.
- Broadberry, S., 1993. "Technological Leadership and Productivity Leadership in Manufacturing Since the Industrial Revolution: Implications for the Convergence Debate," The Warwick Economics Research Paper Series (TWERPS) 414, University of Warwick, Department of Economics.
- Arthur, W Brian, 1989. "Competing Technologies, Increasing Returns, and Lock-In by Historical Events," Economic Journal, Royal Economic Society, vol. 99(394), pages 116-131, March.
- 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 1211-1219, December. Full references (including those not matched with items on IDEAS)