The Impact of Technology on Economic Growth: Some New Ideas and Empirical Considerations
De Loo, Ivo and Soete, Luc (1999). The Impact of Technology on Economic Growth: Some New Ideas and Empirical Considerations. UNU-MERIT Research Memoranda. UNU-MERIT.
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Sub-type Working paper Author De Loo, Ivo
Soete, LucTitle The Impact of Technology on Economic Growth: Some New Ideas and Empirical Considerations Series Title UNU-MERIT Research Memoranda Volume/Issue No. 18 Publication Date 1999 Place of Publication Maastricht, NL Publisher UNU-MERIT Pages 10 Language eng Abstract R&D based models relating technical change and economic growth have been unsuccessful in explaining the recent productivity paradox: R&D efforts have risen continuously in advanced countries during the postwar period whereas productivity growth has, if anything, declined. Several explanations of the paradox are offered, together with empirical ways of testing them. The notion that R&D efforts are more and more attributed to product differentiation, thus enlarging consumers' welfare while simultaneously exhibiting only limited effects on economic growth, looks very promising in explaining the productivity paradox. Copyright Holder n/a Copyright Year 1999 Copyright type All rights reserved -
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