EconPapers    
Economics at your fingertips  
 

Innovation, Structural Change and Multisectoral Economic Growth

Isabel Almudi and Francisco Fatas-Villafranca

A chapter in Demand, Complexity, and Long-Run Economic Evolution, 2019, pp 171-189 from Springer

Abstract: Abstract In this work, we draw upon the Neo-Schumpeterian concept of sectoral systems of innovation to reflect on the uneven sectoral patterns of productivity growth observed in modern economies. Inspired by recent contributions within evolutionary economic theory, we present a formal proposal to integrate uneven sectoral productivity growth in a multisectoral growth model. In this model, certain demand-side elements turn out to be crucial. More precisely, we explore the interactions between technological factors, income growth, and distinct income elasticities of sectoral demand underlying structural change. Thereby, we obtain a representation of economic growth as a long-run property which emerges from complex interactions between sectoral innovation, and certain (often-overlooked) demand-side fundamentals.

Keywords: Economic growth; Structural change; Demand; Sectoral productivity (search for similar items in EconPapers)
JEL-codes: B52 O33 (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:spr:eccchp:978-3-030-02423-9_9

Ordering information: This item can be ordered from
http://www.springer.com/9783030024239

DOI: 10.1007/978-3-030-02423-9_9

Access Statistics for this chapter

More chapters in Economic Complexity and Evolution from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

 
Page updated 2024-10-17
Handle: RePEc:spr:eccchp:978-3-030-02423-9_9