Innovation, diffusion and cumulative causation: changes in the Spanish growth regime, 1960-2001

Fulvio Castellacci

MPRA Paper from University Library of Munich, Germany

Abstract: This article presents a model of macroeconomic growth that combines in a single formalization two complementary views on innovation and economic growth, the technology-gap approach and the Kaldorian theory of cumulative causation. The model suggests that what matters for economic growth in the long run is the existence of a good match between the patterns of technological change, income distribution and demand growth. The model is estimated for the Spanish economy during the period 1960-2001, and the econometric results show that important changes have happened in its growth regime over time. Since the 1980s, innovation and diffusion of new technologies provide with a greater stimulus to productivity growth, but the technology push on the supply-side is not sustained by the prevailing patterns of income distribution and demand growth.

Keywords: Innovation; diffusion; cumulative causation; economic growth (search for similar items in EconPapers)
JEL-codes: O1 (search for similar items in EconPapers)
Date: 2005
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/27605/1/MPRA_paper_27605.pdf original version (application/pdf)

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:pra:mprapa:27605

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().