Innovation, Industrial Dynamics and Economic Growth

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Dateien:
Aufrufstatistik

URI: http://hdl.handle.net/10900/64219
http://nbn-resolving.de/urn:nbn:de:bsz:21-dspace-642199
http://dx.doi.org/10.15496/publikation-5641
Dokumentart: Aufsatz
Date: 2015-07-17
Source: University of Tübingen Working Papers in Economics and Finance ; 84
Language: English
Faculty: 6 Wirtschafts- und Sozialwissenschaftliche Fakultät
Department: Wirtschaftswissenschaften
DDC Classifikation: 330 - Economics
Keywords: Innovation , Wirtschaftswachstum , Welthandel
Other Keywords: Wachstum
Education
industrial dynamics
technology transfer
international trade
economic growth
License: Publishing license excluding print on demand
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Abstract:

We present a class of dynamic general-equilibrium models of education, innovation and technology transfer to explain the evolution of industries and aggregate growth in closed and open economies. Firms employ educated workers in order to develop higher-quality products. The realization of quality innovations becomes more difficult as the quality level increases but this deterioration of technological opportunities is compensated by an improvement of the researchers’ capabilities. Innovation and human-capital accumulation appear as in-line engines of scale-invariant endogenous growth. Industries evolve according to stochastic processes of innovation, imitation and technology adaption in the global economy.

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