Gross Investment And Technological Change

Paul Stoneman and Myung-Joong Kwon

Economics of Innovation and New Technology, 1998, vol. 7, issue 3, 221-243

Abstract: The impact of technological change upon gross investment has been relatively ignored. Building upon the foundations of the analysis of technological diffusion, an empirical model of gross investment is constructed that takes due account of technological change. This model is then tested upon a panel data set covering 185 UK firms over the period from 1984 to 1992. The results support the hypothesis that there are significant relationships of the expected signs between firm level gross investment, indicators of technological opportunity; the price of the capital goods that embody new technology, and firm and industry characteristics. There is also evidence of lagged adjustment effects in the investment process.

Keywords: Investment; Technological change; Innovation JEL Classification: 033; E22 (search for similar items in EconPapers)
Date: 1998
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.tandfonline.com/doi/abs/10.1080/10438599800000035 (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:7:y:1998:i:3:p:221-243

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

DOI: 10.1080/10438599800000035

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 ().