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The Weightless Economy in Economic Development

  • Quah, Danny

Can the increasing significance of knowledge-products in national income---the growing weightless economy---influence economic development? Those technologies reduce ``distance'' between consumers and knowledge production. This paper analyzes a model embodying such a reduction. The model shows how demand-side attributes---consumer attitudes on complex goods; training, education, and skills for consumption (rather than production)---can importantly affect patterns of economic growth and development. Evidence from the failed Industrial Revolution in 14th-century China illustrates the empirical relevance of the analysis.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 2094.

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Date of creation: Mar 1999
Date of revision:
Handle: RePEc:cpr:ceprdp:2094
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  1. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth through Creative Destruction," Econometrica, Econometric Society, vol. 60(2), pages 323-51, March.
  2. Paul M Romer, 1999. "Endogenous Technological Change," Levine's Working Paper Archive 2135, David K. Levine.
  3. Pohjola, M., 2000. "Information Technology and Economic Growth. A Cross-Country Analysis," Research Paper 173, World Institute for Development Economics Research.
  4. Acemoglu, D. & Zilibotti, F., 1998. "Productivity Differences," Papers 660, Stockholm - International Economic Studies.
  5. Quah, Danny, 1996. "Twin Peaks: Growth and Convergence in Models of Distribution Dynamics," CEPR Discussion Papers 1355, C.E.P.R. Discussion Papers.
  6. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
  7. David, Paul A, 1985. "Clio and the Economics of QWERTY," American Economic Review, American Economic Association, vol. 75(2), pages 332-37, May.
  8. repec:tpr:qjecon:v:116:y:2001:i:2:p:563-606 is not listed on IDEAS
  9. Kenneth Arrow, 1962. "Economic Welfare and the Allocation of Resources for Invention," NBER Chapters, in: The Rate and Direction of Inventive Activity: Economic and Social Factors, pages 609-626 National Bureau of Economic Research, Inc.
  10. repec:oup:restud:v:58:y:1991:i:1:p:43-61 is not listed on IDEAS
  11. Grossman, Gene M & Helpman, Elhanan, 1991. "Quality Ladders in the Theory of Growth," Review of Economic Studies, Wiley Blackwell, vol. 58(1), pages 43-61, January.
  12. Danny Quah, 1996. "Twin peaks : growth and convergence in models of distribution dynamics," LSE Research Online Documents on Economics 2278, London School of Economics and Political Science, LSE Library.
  13. Jorgenson, D.W. & Stiroh, K., 1994. "Computers abd Growth," Harvard Institute of Economic Research Working Papers 1707, Harvard - Institute of Economic Research.
  14. Danny Quah, 1996. "Twin Peaks: Growth and Convergence in Models of Distribution Dynamics," CEP Discussion Papers dp0280, Centre for Economic Performance, LSE.
  15. Keely, Louise & Quah, Danny, 1998. "Technology in Growth," CEPR Discussion Papers 1901, C.E.P.R. Discussion Papers.
  16. L. Wade, 1988. "Review," Public Choice, Springer, vol. 58(1), pages 99-100, July.
  17. Rosen, Sherwin, 1981. "The Economics of Superstars," American Economic Review, American Economic Association, vol. 71(5), pages 845-58, December.
  18. repec:oup:restud:v:49:y:1982:i:1:p:3-13 is not listed on IDEAS
  19. repec:oup:restud:v:63:y:1996:i:2:p:301-29 is not listed on IDEAS
  20. Jones, Charles I, 1995. "R&D-Based Models of Economic Growth," Journal of Political Economy, University of Chicago Press, vol. 103(4), pages 759-84, August.
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