Modeling economic growth fuelled by science and technology

Américo Tristão Bernardes, Ricardo Ruiz, Leonardo Ribeiro and Eduardo Albuquerque
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Américo Tristão Bernardes: UFOP

Textos para Discussão Cedeplar-UFMG from Cedeplar, Universidade Federal de Minas Gerais

Abstract: This paper suggests a simulation model to investigate how science and technology fuel economic growth. This model is built upon a synthesis of technological capabilities represented by national innovation systems. This paper gathers data of papers and patents for 183 countries between 1999 and 2003, GDP and population for 2003. These data show a strong correlation between science, technology and income. Three simulation exercises are performed. Feeding our algorithm with data for population, patents and scientific papers, we obtain the world income distribution (R=0.99). These results support our conjecture on the role of science and technology as a source of the wealth of nations.

Keywords: simulation models; systems of innovation; economic growth (search for similar items in EconPapers)
JEL-codes: O10 (search for similar items in EconPapers)
Pages: 15 pages
Date: 2006-08
New Economics Papers: this item is included in nep-ino
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Citations: View citations in EconPapers (1)

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