The Capital Investment Problem With Technological Change

Neslihan Ozkan

Manchester School, 2003, vol. 71, issue 2, 205-216

Abstract: The investment decision of a firm allowing for technological change is investigated. Based on the premise that technological change requires capital investment, a simple Q model of capital investment, which describes the investment behaviour of a perfectly competitive firm, is developed. The model is estimated using US manufacturing sector data over the period 1947–87 and the data provide support for the model.

Date: 2003
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