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Organizing growth

Garicano, Luis and Rossi-Hansberg, Esteban (2012) Organizing growth. Journal of Economic Theory, 147 (2). pp. 623-656. ISSN 1095-7235

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Abstract

We propose a framework to study the impact of information and communication technology on previous termgrowthnext term through its impact on organization and innovation. Agents accumulate knowledge to use available technologies and invent new ones. The use of a technology requires the development of organizations to coordinate the work of experts, which takes time. We find that while advances in information technology always increase previous termgrowth,next term improvements in communication technology may lead to lower previous termgrowthnext term and even to stagnation, since the payoff to exploiting available technologies through organizations increases relative to the payoff from developing new innovations.

Item Type: Article
Official URL: http://www.elsevier.com/wps/find/journaldescriptio...
Additional Information: © 2012 Elsevier
Library of Congress subject classification: H Social Sciences > HC Economic History and Conditions
H Social Sciences > HD Industries. Land use. Labor
Journal of Economic Literature Classification System: D - Microeconomics > D2 - Production and Organizations > D24 - Production; Cost; Capital and Total Factor Productivity; Capacity
L - Industrial Organization > L2 - Firm Objectives, Organization, and Behavior > L23 - Organization of Production
O - Economic Development, Technological Change, and Growth > O3 - Technological Change; Research and Development > O33 - Technological Change: Choices and Consequences; Diffusion Processes
O - Economic Development, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O40 - General
Sets: Research centres and groups > Managerial Economics and Strategy Group
Departments > Economics
Departments > Management
Collections > Economists Online
Research centres and groups > Centre for Economic Performance (CEP)
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 29 Jun 2011 10:40
URL: http://eprints.lse.ac.uk/37002/

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