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Alternative Theories on Economic Growth and the Co-evolution of Macro-Dynamics and Technological Change: A survey

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  • Patrick Llerena
  • André Lorentz

Abstract

This paper aims to propose an approach to endogeneous growth considering the relationship between macro-dynamics and technical change. We draw upon two stream of literature: Cumulative causation and its macroscopic view of economic dynamics, and Evo-lutionary economics and its focus on micro-determinants of technical change. This paper presents a survey of the formal representation of the growth process and identifies the possible bridges between these two approaches. Our claim is that merging these two distinct theories might offer a framework to consider the co-evolution of macro-dynamics and technical change.

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  • Patrick Llerena & André Lorentz, 2003. "Alternative Theories on Economic Growth and the Co-evolution of Macro-Dynamics and Technological Change: A survey," LEM Papers Series 2003/27, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    • Handle: RePEc:ssa:lemwps:2003/27
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    1. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
    2. Silverberg, Gerald & Verspagen, Bart, 1995. "An Evolutionary Model of Long Term Cyclical Variations of Catching Up and Falling Behind," Journal of Evolutionary Economics, Springer, vol. 5(3), pages 209-227, September.
    3. Anthony P. Thirlwall, 2011. "The Balance of Payments Constraint as an Explanation of International Growth Rate Differences," PSL Quarterly Review, Economia civile, vol. 64(259), pages 429-438.
    4. A. P. Thirlwall, 2015. "A Model of Regional Growth Rate Differences on Kaldorian Lines," Palgrave Studies in the History of Economic Thought, in: Essays on Keynesian and Kaldorian Economics, chapter 12, pages 286-301, Palgrave Macmillan.
    5. Marjolein Caniëls & Bart Verspagen, 2003. "Spatial Distance in a Technology Gap Model," Advances in Spatial Science, in: Bernard Fingleton (ed.), European Regional Growth, chapter 5, pages 159-182, Springer.
    6. Bruno Amable, 1993. "Catch-up and convergence : a model of cumulative growth [[Rattrapage et convergence : un modèle de croissance cumulative]]," Post-Print hal-02707053, HAL.
    7. Patrick Llerena & Andre' Lorentz, 2003. "Cumulative Causation and Evolutionary Micro-Founded Technical Change: A Growth Model with Integrated Economies," LEM Papers Series 2003/05, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    8. J. S. L. McCombie & A. P. Thirlwall, 1994. "Economic Growth and the Balance-of-Payments Constraint," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-23121-8.
    9. 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.
    10. Fulvio Castellacci, 2001. "A Technology-gap Approach to Cumulative Growth -Toward an Integrated Model Empirical Evidence for Spain, 1960-1997," DRUID Working Papers 01-04, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
    11. Edward J. Nell & Willi Semmler (ed.), 1991. "Nicholas Kaldor and Mainstream Economics," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-10947-0.
    12. Jan Fagerberg & Bart Verspagen & G. N. von Tunzelmann (ed.), 1994. "The Dynamics Of Technology, Trade And Growth," Books, Edward Elgar Publishing, number 163.
    13. Kaldor, Nicholas, 1972. "The Irrelevance of Equilibrium Economics," Economic Journal, Royal Economic Society, vol. 82(328), pages 1237-1255, December.
    14. Chiaromonte, Francesca & Dosi, Giovanni, 1993. "Heterogeneity, competition, and macroeconomic dynamics," Structural Change and Economic Dynamics, Elsevier, vol. 4(1), pages 39-63, June.
    15. G. Silverberg & B. Verspagen, 1995. "Evolutionary Theorizing on Economic Growth," Working Papers wp95078, International Institute for Applied Systems Analysis.
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    Cited by:

    1. Hale AKBULUT, 2019. "The Economic Effects of Manufacturing Industrial Sector: An Input-Output Analysis," Sosyoekonomi Journal, Sosyoekonomi Society, issue 27(42).
    2. Carton, Christine, 2008. "Crecimiento economico en America Latina: Evidencias desde una perspectiva Kaldoriana [Economic growth in Latin America: Evidence from a Kaldorian perspective]," MPRA Paper 8696, University Library of Munich, Germany.
    3. André Lorentz, . "Sectoral Specialisation and Growth Rate Differences Among Integrated Economies," The Electronic Journal of Evolutionary Modeling and Economic Dynamics, IFReDE - Université Montesquieu Bordeaux IV.
    4. Borsato, Andrea & Lorentz, André, 2023. "The Kaldor–Verdoorn law at the age of robots and AI," Research Policy, Elsevier, vol. 52(10).
    5. Mário Luiz Possas & Esther Dweck, 2005. "A Multisectoral Micro-Macrodynamic Model," Working Papers 0012, Universidade Federal do Paraná, Department of Economics.
    6. Mario Luiz Possas & Esther Dweck, 2004. "A Multisectoral Micro-Macrodynamic Model e Crescimento Econômico: Uma Resenha Temática sobre a Nova Economia Institucional," Economia, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics], vol. 5(3), pages 1-43.

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    Keywords

    Economic Growth; Technical Change; Cumulative Causation; Evolutionary Theory.;
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