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Increasingly weightless economies

Quah, Danny (1997) Increasingly weightless economies. Bank of England Quarterly Bulletin, 37 (1). pp. 49-56. ISSN 0005-5166

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Abstract

This article is one of an occasional series provided by academics working outside the Bank of England. The views expressed reflect those of the author rather than those of the Bank of England. In this article Danny T Quah examines how, when an economy grows, its patterns of production and consumption systematically change. He describes one such large-scale evolution, namely, the increasing weightlessness of aggregate output across advanced economies. In all fast-growing successful countries, growth in information technology has contributed positively both to increasing weightlessness and to economic growth. In the sample of countries studied here, the richer the country the higher the contribution to growth of information technology and services; in no country has manufacturing, as traditionally construed, continued to be as important.

Item Type: Article
Official URL: http://www.bankofengland.co.uk/publications/Pages/...
Additional Information: © 1997 Bank of England
Library of Congress subject classification: H Social Sciences > HB Economic Theory
H Social Sciences > HD Industries. Land use. Labor
Journal of Economic Literature Classification System: E - Macroeconomics and Monetary Economics > E0 - General
Sets: Departments > Economics
Research centres and groups > LSE IDEAS
Collections > Economists Online
Research centres and groups > Centre for the Study of Human Rights
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 27 Apr 2007
URL: http://eprints.lse.ac.uk/1075/

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