Innovation diffusion, general purpose technologies and economic growth
| Autor: | Franco Nardini, Rainer Andergassen, Massimo Ricottilli |
|---|---|
| Přispěvatelé: | Andergassen, Rainer, Nardini, Franco, Ricottilli, Massimo |
| Rok vydání: | 2017 |
| Předmět: |
Macroeconomics
Economics and Econometrics Branching processe Technological change 05 social sciences Innovation diffusion General purpose 0502 economics and business Economics General purpose technologie 050207 economics Diffusion (business) Innovation Economic growth 050203 business & management Industrial organization Technological distance |
| Zdroj: | Structural Change and Economic Dynamics. 40:72-80 |
| ISSN: | 0954-349X |
| DOI: | 10.1016/j.strueco.2016.12.003 |
| Popis: | This paper investigates the mechanics through which novel technological principles are developed and diffused throughout an economy consisting of a technologically heterogeneous ensemble of firms. In this model entrepreneurs invest in the discovery and in the diffusion of a technological principle. We argue that if the technological distance between goods is sufficiently large, then the economy is trapped in a no-growth equilibrium where innovations remain isolated events, while if it is sufficiently short, then innovations eventually percolate throughout the whole economy, leading to the emergence of general purpose technologies and sustained long run growth. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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