Citation

Discussion Paper Details

Please find the details for DP2094 in an easy to copy and paste format below:

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Title: The Weightless Economy in Economic Development

Author(s): Danny Quah

Publication Date: March 1999

Keyword(s): China, copyright, Growth, Information Technology, intellectual property, knowledge-product, patent, software, superstars and tacit knowledge

Programme Area(s): International Macroeconomics

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.

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Bibliographic Reference

Quah, D. 1999. 'The Weightless Economy in Economic Development'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=2094