A Non-linear Development Dynamics of Capital Accumulation, Distribution and Technological Innovation

Gilberto Lima

Anais do XXXI Encontro Nacional de Economia [Proceedings of the 31st Brazilian Economics Meeting] from ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics]

Abstract: It is elaborated a development dynamic model of accumulation, growth and distribution in which endogenous technological innovation plays a significant role. Firms’ rate of labour-saving technological innovation is made to depend non-linearly on the distributive (wage and profit) shares, with the latter determining both the incentives to innovate and the availability of funding to carry it out. As it turns out, the direction and the intensity of the effect of a change in distribution on the rates of accumulation and growth depend on the prevailing distribution, with a similar dependence applying – alongside the relative bargaining power of capitalists and workers – to the dynamic stability properties of the system. Hence, the model does not rely on full capacity utilisation being reached for a change in the accumulation and growth regime to take place.

Keywords: capital accumulation; distribution; technological innovation (search for similar items in EconPapers)
JEL-codes: O1 O3 O4 (search for similar items in EconPapers)
Date: 2003
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