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SUSTAINED GROWTH DRIVEN BY MULTIPLE, CO-EXISTING GPTs

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Abstract

The model incorporates characteristics of general purpose technologies established empirically but not currently modeled: GPTs occur simultaneously in several technology "classes," such as ICTs and materials; different "versions" of each class often compete with each other; GPTs of different classes complement each other; uncertainty is associated with GPT development and diffusion. The model's three sectors produce consumption goods using applied knowledge, applied knowledge using GPTs, and pure knowledge that occasionally discovers a new GPT whose efficiency increases as it diffuses. The model allows for competition between, and complementarities among GPTs, replicates accepted growth facts and is useful for policy analysis.

Suggested Citation

  • Kenneth I. Carlaw & Richard G. Lipsey, 2007. "SUSTAINED GROWTH DRIVEN BY MULTIPLE, CO-EXISTING GPTs," Discussion Papers dp07-17, Department of Economics, Simon Fraser University.
    • Handle: RePEc:sfu:sfudps:dp07-17
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    Cited by:

    1. Kenneth Carlaw & Richard Lipsey, 2011. "Sustained endogenous growth driven by structured and evolving general purpose technologies," Journal of Evolutionary Economics, Springer, vol. 21(4), pages 563-593, October.
    2. Fulvio Castellacci, 2010. "Structural Change And The Growth Of Industrial Sectors: Empirical Test Of A Gpt Model," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 56(3), pages 449-482, September.

    More about this item

    Keywords

    General purpose technologies (GPTs); diffusion; efficiency; growth; R&D.;
    All these keywords.

    JEL classification:

    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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