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Progresso tecnico e dinamica del prodotto in un'economia "in ritardo"

Author

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  • Daniela Palma
  • Stefano Prezioso

Abstract

This paper aims to investigate to what extent Italy?s growth divergence from major industrialised countries is explained by structural dynamics driven by the evolution of technological change over the past two decades. Along the lines of the main theoretical contributions that address the role of knowledge accumulation in economic development, we conducted our analysis based on the model framework of Kaldor?s Technical Progress Function (TPF). We performed TFP Error Correction Model estimates for Italy and a number of other relevant European countries to account for both long- and short-term interaction effects between variables and to identify any structural breaks in the relationship. Empirical results for Italy point to the increasing inadequacy of capital accumulation to absorb technical progress. Significant evidence of a lock-in condition is also found in terms of market structure and profitability, leading us to claim the need for policies targeted to high-tech industries.

Suggested Citation

  • Daniela Palma & Stefano Prezioso, 2010. "Progresso tecnico e dinamica del prodotto in un'economia "in ritardo"," ECONOMIA E POLITICA INDUSTRIALE, FrancoAngeli Editore, vol. 2010(1), pages 33-74.
    • Handle: RePEc:fan:polipo:v:html10.3280/poli2010-001003
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    Citations

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    Cited by:

    1. Stefano Lucarelli & Daniela Palma & Roberto Romano, 2013. "Quando gli investimenti rappresentano un vincolo. Contributo alla discussione sulla crisi italiana nella crisi internazionale," Moneta e Credito, Economia civile, vol. 66(262), pages 167-203.
    2. Stefano Lucarelli & Roberto Romano, 2016. "The Italian Crisis within the European Crisis. The Relevance of the Technological Foreign Constraint," World Economic Review, World Economics Association, vol. 2016(6), pages 1-12, February.
    3. Paolo Pini & Roberto Romano, 2014. "DEF 2014: le fonti mancanti della crescita," ECONOMIA E SOCIET? REGIONALE, FrancoAngeli Editore, vol. 2014(2), pages 88-125.

    More about this item

    Keywords

    Struttura di mercato; progresso tecnico; ricerca e sviluppo;
    All these keywords.

    JEL classification:

    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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