The Weightless Economy in Economic Development

Danny Quah ()

No 2094, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: Can the increasing significance of knowledge-products in national income---the growing weightless economy---influence economic development? Those technologies reduce ``distance'' between consumers and knowledge production. This paper analyzes a model embodying such a reduction. The model shows how demand-side attributes---consumer attitudes on complex goods; training, education, and skills for consumption (rather than production)---can importantly affect patterns of economic growth and development. Evidence from the failed Industrial Revolution in 14th-century China illustrates the empirical relevance of the analysis.

Keywords: China; copyright; Growth; Information Technology; intellectual property; knowledge-product; patent; software; superstars; tacit knowledge (search for similar items in EconPapers)
JEL-codes: N15 O11 O14 O33 (search for similar items in EconPapers)
Date: 1999-03
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Working Paper: The Weightless Economy in Economic Development (1999)
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