The Weightless Economy in Economic Development

Danny Quah

CEP Discussion Papers from Centre for Economic Performance, LSE

Abstract: Can the increasing significance of knowledge-products in national income - the growing weightless economy - influence economic development? Those technologies reduce 'distance' between consumers and knowledge production. This paper analyzes a model embodying such a reduction. The model shows how demand-side attributes - consumer attitudes on complex goods; training, education, and skills for consumption (rather than production) - can importantly affect patterns of economic growth and development. Evidence from the failed Industrial Revolution in 14th-century China illustrates the empirical relevance of the analysis.

Date: 1999-03
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Citations: View citations in EconPapers (25)

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Persistent link: https://EconPapers.repec.org/RePEc:cep:cepdps:dp0417

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