The Implications of Technology Networks on Diffusion and Economic Growth
After the record-breaking run of high-speed growth in the United States during the late 1990s, a pressing question is Has anything fundamental changed in our growth engine? This paper examines an IT-led endogenous growth model driven by technology diffusion. Diffusion is in turn driven by network ef...
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2002
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| Online Access: | https://ink.library.smu.edu.sg/soe_research/696 https://ink.library.smu.edu.sg/context/soe_research/article/1695/viewcontent/Networked_Diffusion.pdf |
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| Institution: | Singapore Management University |
| Language: | English |
| Summary: | After the record-breaking run of high-speed growth in the United States during the late 1990s, a pressing question is Has anything fundamental changed in our growth engine? This paper examines an IT-led endogenous growth model driven by technology diffusion. Diffusion is in turn driven by network effect embodied in new technologies. The equilibrium long-term growth rate is however found to be independent of such technology networks. A novelty in our model is that innovation is discontinuous and it is separated by periods of diffusion. This (IT) network-diffusion is shown to be Sigmoid, and diffusion speed is slower than socially optimal. |
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