This paper investigates the relevance of government purchasing behavior for innovationbased economic growth. We construct a parsimonious Schumpeterian growth model in which demand from the public sphere can effectively alter the economy’s rate of technological change. We incorporate results of various empirical studies arguing that public sector demand acts as incentive for private innovation a...

Based on a framework proposed by Battese and Coelli (1995), we estimated the stochastic frontier production function for four Chinese industries: building materials, chemicals, machinery and textiles during 1990–1994. The type of technological change is tested and total factor productivity (TFP) growth is calculated for each industry. We found no evidence of technological change in the building...

Developing nations have developed technology rapidly in recent years. These nations are integrating various forms of technology, such as computers, radios, cellular phones, televisions, newspapers, and the internet into their daily lives. This research argues that technological growth in developing nations results from a mutually dependent process: technology use spurs understanding, which in t...

Technological innovation has generated considerable interest among academics and practitioners in recent years. In recent decades, Information and Communication Technologies (ICT) such as computer terminals, e-mail and the Internet and their applications have become the major drivers of innovation, growth and social change. Moreover, as the OECD points out (OECD, 2010), in times of crisis there...

The current paper studies an endogenous growth model driven by the technological development level of a country, which conditions both its factor productivity and the financial investment decisions of agents. Heterogeneity in the level of technological development among countries may not only lead to temporal divergences in income and productivity levels but also to divergent growth paths and p...

This paper studies the impact of the information and communication technologies (ICT) on U.S. economic growth using a dynamic general equilibrium approach. We use a production function with six di¤erent capital inputs, three of them corresponding to ICT assets and other three to non-ICT assets. We …nd that the technological change embedded in hardware equipment is the main leading nonneutral fo...

Technological Innovation, Financial Fragility and Complex Dynamics In this paper we suggest a scaling approach to business cycles. We develop a heterogeneous interacting agents (HIAs) model that replicates well known industrial dynamics stylized facts, as the power law distribution of firms’ size and the Laplace distribution of firms’ growth rates. In particular, the power law is a persistent b...