Information Technology, Capital Structure and the Nature of Technical Change
This paper presents statistical evidence on (1) the importance of "soft" capital spending items like marketing and R&D investments, and (2) the dominant service content of production in the modern manufacturing firm. It pictures the firm as a dominantly information processing entity that has been gradually shifting its competitive base from process cost efficiency toward a product technology. The paper, hence, argues (3) that during the post-war period technical change has been gradually pivoting in a relatively more (hardware) capital saving direction.
|Date of creation:||Apr 1985|
|Date of revision:|
|Contact details of provider:|| Postal: Research Institute of Industrial Economics, Box 55665, SE-102 15 Stockholm, Sweden|
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