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Path dependence, endogenous innovation and growth

Redding, Stephen (1999) Path dependence, endogenous innovation and growth. 424. Centre for Economic Performance, London School of Economics and Political Science, London, UK.

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Identification Number: 424

Abstract

We consider a macroeconomic model of endogenous innovation and growth, in which technological progress is path dependent and technological lock-in may occur. These features of technological change are emphasised in the historical and microeconomic literatures, and are formalised here using a distinction between fundamental and secondary knowledge. Secondary knowledge spills over imperfectly across fundamental technologies, and the historical path of technological development is a central determinant of endogenous rates of technological change. Economic growth depends on the extent of secondary knowledge accumulation, and leapfrogging in cross-country levels of income per capita may occur

Item Type: Monograph (Discussion Paper)
Official URL: http://cep.lse.ac.uk/
Additional Information: © 1999 the authors
Subjects: H Social Sciences > HC Economic History and Conditions
T Technology > T Technology (General)
H Social Sciences > HB Economic Theory
Sets: Collections > Economists Online
Research centres and groups > Centre for Economic Performance (CEP)
Departments > Economics
Date Deposited: 05 Mar 2008 12:00
Last Modified: 01 Oct 2010 08:50
URI: http://eprints.lse.ac.uk/id/eprint/3723

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