2003/28 | LEM Working Paper Series | |
Alternative Theories on Economic Growth and the Co-evolution of Macro-Dynamics and Technological Change: A survey. |
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Patrick Llerena, André Lorentz |
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Keywords | ||
Economic Growth, Technical Change, Cumulative Causation,
Evolutionary Theory.
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JEL Classifications | ||
O30, O40
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Abstract | ||
This paper aims to propose an approach to endogeneous growth considering the relationship
between macro-dynamics and technical change. We draw upon two stream of literature:
Cumulative causation and its macroscopic view of economic dynamics, and Evo-lutionary
economics and its focus on micro-determinants of technical change. This paper presents a
survey of the formal representation of the growth process and identifies the possible bridges
between these two approaches. Our claim is that merging these two distinct theories might
offer a framework to consider the co-evolution of macro-dynamics and technical change.
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