Vijverberg, Chu-Ping C; Fei, John C H - In: The Review of Economics and Statistics 78 (1996) 2, pp. 309-20
It is not unreasonable to believe that most, if not all, important innovations are embodied in an industry's capital stock. The notion that the efficiency of large scale of production is brought about mainly by a larger size capital stock or a more advanced one is not new. The purpose of this...