On the relations between technological opportunity, specialization and growth
This paper aims to discuss the role of technological specialization in economic growth. Economic literature has stressed that there are theoretical reasons and empirical results to associate trade specialization in high-tech products with growth. There are also theoretical reasons to associate technological specialization in dynamic technological opportunity fields („correct specialization?) with rhythms of technological advance, which is not usually confirmed by empirical studies. Using data from 1985 to 2005 for 38 countries, this paper shows that there is no evidence to confirm that a certain technological specialization implies technical change irreversibility. The paper also confirms the contribution of „correct technological? specialization to growth.
|Date of creation:||2011|
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