The Weightless Economy in Economic Development

Danny Quah

No 295481, WIDER Working Papers from United Nations University, World Institute for Development Economic Research (UNU-WIDER)

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: International; Development (search for similar items in EconPapers)
Pages: 43
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Persistent link: https://EconPapers.repec.org/RePEc:ags:widerw:295481

DOI: 10.22004/ag.econ.295481

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