2008/01 | LEM Working Paper Series | |
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Technical Change and Economic Growth: Some Lessons from Secular Patterns and Some Conjectures on the Current Impact of ICT Technology |
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Carolina Castaldi and Giovanni Dosi |
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Keywords | ||
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Technical change, Economic Growth, ICT
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Abstract | ||
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This paper discusses the link between patterns of technological change
and economic development taking an evolutionary perspective. We argue
that the modes and timing of such coupled dynamics are deeply
influenced by the emergence of new techno-economic paradigms or
regimes. ICT-based technologies are the drivers of the current
paradigm, which, we show, is still at an early stage of diffusion,
particularly for developing countries. Building from historical
evidence, we argue that catching up of developing countries critically
depends on their ability to master the technology behind the dominant
technoeconomic paradigm. We then discuss threats and opportunities
related to a possible ICTbased development path.
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