Path Dependence, Endogenous Innovation and Growth

Stephen Redding

CEP Discussion Papers from Centre for Economic Performance, LSE

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 occur.

Date: 1999-05
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Journal Article: Path Dependence, Endogenous Innovation, and Growth (2002)
Working Paper: Path dependence, endogenous innovation, and growth (2002)
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