Essays on the theory of endogenous technological progress PDF Download

Author: Osamu Takenaka
Publisher:
ISBN:
Category :
Languages : en
Pages : 194

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Author: Jakub Growiec
Publisher: Presses univ. de Louvain
ISBN: 9782874630859
Category : Business & Economics
Languages : en
Pages : 192

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This thesis covers a broad range of topics in the general area of economic growth theory and economics of technological change. It is primarily about the ultimate sources of growth and its ultimate limitations. We scrutinize the implications of several specifications of long-run growth “engines” found in the theoretical literature and put forward their generalizations and extensions. At the highest level of generality, we provide a formal proof that balanced (i.e. exponential) growth requires knife-edge assumptions which cannot be satisfied by typical values of model parameters. This result implies that at least one such knife-edge assumption must be made if a given model is supposed to deliver balanced growth over the long run. Next, we deal with the issue of resource-based limits to long-run growth. We propose to promote technological progress which would improve the substitutability between non-renewable and renewable resources: if the elasticity of substitution between the two kinds of resources exceeds unity, production will not fall down to zero even after the non-renewable resources will have been completely depleted. Another question asked is whether it is plausible that R&D-based growth, fueled by steady increases in the world’s population, can be extended into indefinite time. We answer this question by introducing endogenous fertility choice, with population entering the utility functional multiplicatively, into an R&D-based semi-endogenous growth model. The next issue addressed here are the idea-based microfoundations of aggregate production functions. We discuss the correspondence between the shape of production functions, the direction of technical change, and the possibility of sustained endogenous growth. A broad class of production functions, nesting both the Cobb-Douglas and the CES function, is derived. Finally, we discuss the impact of the heterogeneity of innovations on long-run economic dynamics: we augment the semi-endogenous growth model with a distinction between radical and incremental innovations. Total R&D output is assumed to depend on technological opportunity which is depleted by incremental innovations but renewed by radical innovations. The dynamic interplay of the arrivals of the two types of innovations is shown to give rise to transitional oscillations.

Author: Ranjit Vohra
Publisher:
ISBN:
Category : Economics, Mathematical
Languages : en
Pages : 120

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Author: Iordanis Petsas
Publisher:
ISBN:
Category :
Languages : en
Pages : 338

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Author: Th van de Klundert
Publisher: Edward Elgar Publishing
ISBN:
Category : Biography & Autobiography
Languages : en
Pages : 378

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These 13 essays demonstrate the development of growth theory since the 1960s. The sequence of chapters reveals the shifts in focus which has occurred since the first formal growth models of the 1940s and 1950s, illustrating the different theories which have led to the contemporary model.

Author: Yasuyuki Todo
Publisher:
ISBN:
Category : Endogenous growth (Economics)
Languages : en
Pages : 208

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Author: Albert N. Link
Publisher: Springer Science & Business Media
ISBN: 9780387250106
Category : Business & Economics
Languages : en
Pages : 330

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Edwin Mansfield was a research pioneer into the economics of R and D and technological change. As appreciation and remembrance for his scholarly contributions, eminent scholars have contributed original papers for this edited volume. The authors have followed the "Mansfieldian” approach of emphasizing economic insight and intuition over mathematical rigor and as a result are very accessable. Essays in Honor of Edwin Mansfield has the potential to serve as a reader in all advanced undergraduate and graduate classes/seminars in the economics of R and D and technological change. This edited volume will be the definitive work in the field.

Author: Giovanni Dosi
Publisher: Edward Elgar Publishing
ISBN: 9781782541851
Category : Business & Economics
Languages : en
Pages : 728

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Conventional economic analysis of property rights in natural resources is too narrow and restrictive to allow for effective comparisons between alternative institutional structures. In this book, a conceptual framework is developed for the analysis of the

Author: Richard Lloyd Dennis
Publisher:
ISBN:
Category : Technological innovations
Languages : en
Pages : 75

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Author: Michael Frei
Publisher: GRIN Verlag
ISBN: 3656472297
Category : Business & Economics
Languages : en
Pages : 14

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Essay from the year 2009 in the subject Economics - Economic Cycle and Growth, grade: 31 von 31, Free University of Bozen-Bolzano (School of Economics and Management), language: English, abstract: In his speech at the Inaugural Convention of the African Federation of Human Resource Management Association in Botswana, Professor David Abulai (2008) stated that quality and quantity of human capital is becoming increasingly evident for the economic development of nations in today’s knowledge era. In fact the world of today is influenced by steady technological and scientific progress; by means of these new developments the socio-economic conditions in which people live are increasingly improving. Nevertheless a big part of the world is still lagging behind and social and economic distinctions still exist and developing countries are trying to catch up. Professor Abulai (2008) argued that the key to this catching up in development is the population itself, which has to be educated, healthy and qualified in order to deal with new scientific and technological inventions and to exploit this new opportunities in the best possible way. The aim of this paper will be in the first part to analyze the impact of education, human capital and knowledge for economic growth and development. In the second part of this paper the incorporation of human capital into endogenous growth models will be examined, focusing on the two main branches of growth analysis pioneered by Romer (1990) and Lucas (1988).