Citation

Discussion Paper Details

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Title: Technology Dissemination and Economic Growth: Some Lessons for the New Economy

Author(s): Danny Quah

Publication Date: February 2002

Keyword(s): aspatial, demand, endogenous growth, endogenous technology, human capital, industrial revolution, infinitely expansible, neoclassical growth, nonrival, productivity paradox and weightless economy

Programme Area(s): International Macroeconomics

Abstract: This Paper attempts to draw lessons for the New Economy from what economists know about technology dissemination and economic growth. It argues that what is most notable about the New Economy is that it is knowledge-driven, not just in the sense that knowledge now assumes increasing importance in production, thereby raising productivity. Instead, it is that consumption occurs increasingly in goods that are like knowledge ? computer software, video entertainment, gene sequences, Internet-delivered goods and services ? where material physicality matters little. That knowledge is aspatial and nonrival is key. Understanding the effective exchange and dissemination of such knowledge-products will matter more than resolving the so-called productivity paradox.

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Bibliographic Reference

Quah, D. 2002. 'Technology Dissemination and Economic Growth: Some Lessons for the New Economy'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=3207