The Weightless Economy in Economic Development

Research Paper from World Institute for Development Economics Research

Abstract: Can the increasing signicance of knowledge-products in national income- the growing weightless economy-infuence 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, educa tion, 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: TECHNOLOGY; ECONOMIC GROWTH; KNOWLEDGE (search for similar items in EconPapers)
JEL-codes: N15 O11 O14 O33 (search for similar items in EconPapers)
Date: Written 1999
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Working Paper: The Weightless Economy in Economic Development (1999)
Working Paper: The Weightless Economy in Economic Development (1999)
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