The weightless economy in economic development

Quah, Danny (1999) The weightless economy in economic development. CEP discussion paper; CEPDP0417, 417. Centre for Economic Performance, London School of Economics and Political Science, London, UK.

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Abstract

Can the increasing significance of knowledge-products in national income - the growing weightless economy - influence economic development? Those technologies reduce ''distance'' between consumers and knowledge production. This paper analyzes a model embodying such a reduction. The model shows how demand-side attributes - consumer attitudes on complex goods; training, education, and skills for consumption (rather than production) - can importantly affect patterns of economic growth and development. Evidence from the failed Industrial Revolution in 14th-century China illustrates the empirical relevance of the analysis.

Item Type:	Monograph (Discussion Paper)
Official URL:	http://cep.lse.ac.uk
Additional Information:	© 1999 the author
Subjects:	H Social Sciences > HB Economic Theory
JEL classification:	N - Economic History > N1 - Macroeconomics and Monetary Economics; Growth and Fluctuations > N15 - Asia including Middle East O - Economic Development, Technological Change, and Growth > O1 - Economic Development > O11 - Macroeconomic Analyses of Economic Development O - Economic Development, Technological Change, and Growth > O1 - Economic Development > O14 - Industrialization; Manufacturing and Service Industries; Choice of Technology O - Economic Development, Technological Change, and Growth > O3 - Technological Change; Research and Development > O33 - Technological Change: Choices and Consequences; Diffusion Processes
Sets:	Collections > Economists Online Research centres and groups > Centre for Economic Performance (CEP) Departments > Economics
Series:	Working Papers > CEP Discussion Papers
Date Deposited:	27 Apr 2007
Last Modified:	14 Nov 2012 10:19
URI:	http://eprints.lse.ac.uk/id/eprint/2291

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