Abstract
The economics of technological change is a topic which in recent years has received a great deal of attention among economists (see Stoneman 1983 for an overview). Although the assumption of exogenous technological change is questioned, still the production and diffusion of new technologies are often described as being exogenous in many respects. In this paper an approach will be outlined by which both phenomena can be described in a more endogenous way. The basic idea is that the development of new production techniques by means of R&D can be viewed as a production process and described by means of a production function.
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References
Rouwendal, J., Endogenizing Technological Change in a Neoclassical Growth Model, Research Paper, Free University, Amsterdam, 1986.
Solow, R.M., ‘A contribution to the theory of economic growth’, Quarterly Journal of Economics, 1956.
Stoneman, P., The Economic Analysis of Technological Change, Oxford University Press, Oxford, 1983.
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© 1986 Springer-Verlag Berlin Heidelberg
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Rouwendal, J. (1986). On the Production and Diffusion of Technological Change. In: Nijkamp, P. (eds) Technological Change, Employment and Spatial Dynamics. Lecture Notes in Economics and Mathematical Systems, vol 270. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-46578-9_20
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DOI: https://doi.org/10.1007/978-3-642-46578-9_20
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-16478-4
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