INTELLIGENT MACHINE TECHNOLOGY AND PRODUCTIVITY GROWTH

David Leech and John Scott

Economics of Innovation and New Technology, 2008, vol. 17, issue 7-8, 677-687

Abstract: This paper provides preliminary estimates of the productivity impact of intelligent machine technology (IMT) and the rate of return to IMT research and development (R&D) over the next two decades. The paper adapts economists' traditional productivity growth model to enable the use of industrial experts' forecasts of a few key parameters of the model to form the estimates of productivity growth and rate of return. Respondents - from a sample of firms operating in IMT development and applications in the automotive, aerospace, and capital construction industries - anticipate that IMT will generate substantial productivity growth over the next two decades, and the estimated social rates of return to IMT R&D are substantial.

Keywords: Intelligent machine technology; Productivity growth; Research and development (search for similar items in EconPapers)
Date: 2008
References: View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.tandfonline.com/doi/abs/10.1080/10438590701785637 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:ecinnt:v:17:y:2008:i:7-8:p:677-687

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/GEIN20

DOI: 10.1080/10438590701785637

Access Statistics for this article

Economics of Innovation and New Technology is currently edited by Professor Cristiano Antonelli

More articles in Economics of Innovation and New Technology from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().