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Technical Progress, Market Restraint and Economic Growth

Author

Listed:
  • Alexandre Rands

    (Datamétrica Consultoria, Pesquisa e Telemarketing)

  • Analice Amazonas

    (Datamétrica Consultoria, Pesquisa e Telemarketing)

Abstract

This paper emphasizes that although technical progress is crucial for economic growth, its promotion may lead to income concentration in hands of the richest. As it demands public effort to reach its optimal level, because of the existence of several market restraints on the production of new technologies, policies designed to accelerate technical progress may have perverse effects on income distribution. This paper presents a two sector model in the endogenous growth tradition to capture rigorously these conclusions and to show that they have theoretical support from rational behaviour of agents. As a consequence of these results, public authorities should be cautious on the effective structure of such policies and assure that there are some kind of compensation for those who loose with their implementation.

Suggested Citation

  • Alexandre Rands & Analice Amazonas, 2001. "Technical Progress, Market Restraint and Economic Growth," Working Papers 16, Datamétrica Consultoria Econômica, revised 2001.
    • Handle: RePEc:dtm:wpaper:16
    as

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    File URL: ftp://repec.datametrica.com.br/RePEc/dtm/wpaper/BARROSAlexandreTechnicalProgressMarketrestraintsandGrowthLivroNWOS16.pdf
    File Function: Revised version, 2001.
    Download Restriction: no
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    More about this item

    Keywords

    technical progress; growth; public policies.;
    All these keywords.

    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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