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Path dependence, endogenous innovation and growth

By Stephen Redding

Abstract

We consider a macroeconomic model of endogenous innovation and growth, in which technological progress is path dependent and technological lock-in may occur. These features of technological change are emphasised in the historical and microeconomic literatures, and are formalised here using a distinction between fundamental and secondary knowledge. Secondary knowledge spills over imperfectly across fundamental technologies, and the historical path of technological development is a central determinant of endogenous rates of technological change. Economic growth depends on the extent of secondary knowledge accumulation, and leapfrogging in cross-country levels of income per capita may occu

Topics: HC Economic History and Conditions, T Technology (General), HB Economic Theory
Publisher: Centre for Economic Performance, London School of Economics and Political Science
Year: 1999
OAI identifier: oai:eprints.lse.ac.uk:3723
Provided by: LSE Research Online
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