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An Evolutionary Model of Industrial Growth and Structural Change

This paper explores the rules which regulate market shares dynamics within industries jointly with the mechanisms underpinning a process of general evolution in which n sectors grow at different rates and structural change takes place. It introduces a selection equation, which allows for selection within and between sectors and explores the forces that can account for the differential growth of different industries. Sectoral and aggregate productivity growth rates depend upon a sorting and a selection mechanism between and within sectors, which continuously changes the relative position of competing firms. This paper generalises Metcalfe’s Fisher Principle (Metcalfe, 1998) results to a multi-sectoral economy.

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File URL: ftp://ftp.unibocconi.it/pub/RePEc/cri/papers/wp121.pdf
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Paper provided by KITeS, Centre for Knowledge, Internationalization and Technology Studies, Universita' Bocconi, Milano, Italy in its series KITeS Working Papers with number 121.

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Length: 37 pages
Date of creation: Nov 2000
Date of revision: Nov 2000
Handle: RePEc:cri:cespri:wp121
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  1. Aghion, P. & Howitt, P., 1989. "A Model Of Growth Through Creative Destruction," UWO Department of Economics Working Papers 8904, University of Western Ontario, Department of Economics.
  2. Klepper, Steven, 1997. "Industry Life Cycles," Industrial and Corporate Change, Oxford University Press, vol. 6(1), pages 145-81.
  3. Metcalfe, J S, 1994. "Competition, Fisher's Principle and Increasing Returns in the Selection Process," Journal of Evolutionary Economics, Springer, vol. 4(4), pages 327-46, November.
  4. Notarangelo, Micaela, 1999. "Unbalanced growth: a case of structural dynamics," Structural Change and Economic Dynamics, Elsevier, vol. 10(2), pages 209-223, June.
  5. Paul M Romer, 1999. "Endogenous Technological Change," Levine's Working Paper Archive 2135, David K. Levine.
  6. Klepper, Steven, 1996. "Entry, Exit, Growth, and Innovation over the Product Life Cycle," American Economic Review, American Economic Association, vol. 86(3), pages 562-83, June.
  7. Baumol, William J & Blackman, Sue Anne Batey & Wolff, Edward N, 1985. "Unbalanced Growth Revisited: Asymptotic Stagnancy and New Evidence," American Economic Review, American Economic Association, vol. 75(4), pages 806-17, September.
  8. Young, Allyn A., 1928. "Increasing Returns and Economic Progress," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 38, pages 527-542.
  9. Cohen, Michael D, et al, 1996. "Routines and Other Recurring Action Patterns of Organizations: Contemporary Research Issues," Industrial and Corporate Change, Oxford University Press, vol. 5(3), pages 653-98.
  10. Saviotti, P P & Mani, G S, 1995. "Competition, Variety and Technological Evolution: A Replicator Dynamics Model," Journal of Evolutionary Economics, Springer, vol. 5(4), pages 369-92, December.
  11. John Conlisk, 1996. "Why Bounded Rationality?," Journal of Economic Literature, American Economic Association, vol. 34(2), pages 669-700, June.
  12. Dosi, Giovanni, 1988. "Sources, Procedures, and Microeconomic Effects of Innovation," Journal of Economic Literature, American Economic Association, vol. 26(3), pages 1120-71, September.
  13. Winter, Sidney G., 1984. "Schumpeterian competition in alternative technological regimes," Journal of Economic Behavior & Organization, Elsevier, vol. 5(3-4), pages 287-320.
  14. Saviotti, P. P., 1988. "Information, variety and entropy in technoeconomic development," Research Policy, Elsevier, vol. 17(2), pages 89-103, April.
  15. Paolo ERCOLANI, 1994. "La terziarizzazione dell'occupazione. Analisi delle cause e dei problemi aperti," Working Papers 54, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
  16. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
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