An Evolutionary Model of Industrial Growth and Structural Change
Fabio Montobbio ()
No 121, KITeS Working Papers from KITeS, Centre for Knowledge, Internationalization and Technology Studies, Universita' Bocconi, Milano, Italy
This paper explores the rules which regulate market shares dynamics within industries jointly with the mechanisms underpinning a process of general evolution in which n sectors grow at different rates and structural change takes place. It introduces a selection equation, which allows for selection within and between sectors and explores the forces that can account for the differential growth of different industries. Sectoral and aggregate productivity growth rates depend upon a sorting and a selection mechanism between and within sectors, which continuously changes the relative position of competing firms. This paper generalises Metcalfe’s Fisher Principle (Metcalfe, 1998) results to a multi-sectoral economy.
Keywords: Structural change; Evolutionary economics; Selection (search for similar items in EconPapers)
JEL-codes: L1 O30 O41 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-tid
Date: 2000-11, Revised 2000-11
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Journal Article: An evolutionary model of industrial growth and structural change (2002)
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Persistent link: https://EconPapers.repec.org/RePEc:cri:cespri:wp121
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