Technological Complexity and Economic Growth

Mihaela Pintea and Peter Thompson ()

Review of Economic Dynamics, 2007, vol. 10, issue 2, 276-293

Abstract: Over the last fifty years there have been large secular increases in educational attainment and R&D intensity. The fact that these trends have not stimulated more rapid income growth has been a persistent puzzle for growth theorists. We construct a model of endogenous economic growth in which income growth, R&D intensity, and educational attainment depend on the complexity of new technologies. An increase in complexity that makes passive learning more difficult induces increases in R&D and education, alongside a decline in income growth. Our explanation also predicts a concurrent rise in the skill premium. (Copyright: Elsevier)

Keywords: Endogenous growth; Learning; R&D; Educational attainment; Wage inequality; Technological complexity (search for similar items in EconPapers)
JEL-codes: E10 O40 (search for similar items in EconPapers)
Date: 2007
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (23)

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DOI: 10.1016/j.red.2006.12.001

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