Technology, Efficiency and Market Structure

Jati Sengupta and Phillip Fanchon

Chapter 1 in Efficiency, Market Dynamics and Industry Growth, 2009, pp 1-30 from Palgrave Macmillan

Abstract: Abstract Technology affects economic growth and development in many ways. It comes in many forms and affects firm growth and industry evolution. Three specific economic meanings of technology and technological progress have been emphasized in dynamic economics. First, it measures the dynamic shift over time of the production frontier, i.e., the way the various inputs are utilized to produce outputs over time. Technological progress may be partly embodied in the individual inputs like labor and capital, or it may reflect the joint productivity effects of some or all inputs. Second, technology may take the form of new research ideas and knowledge as human capital.

Keywords: Unit Cost; Market Structure; Production Frontier; Market Dynamics; Excess Capacity (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-24866-3_1

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DOI: 10.1057/9780230248663_1

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