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of human mind. In other words, knowledge on production, i.e., technology or productive knowledge provides the premises … and gives occasion to a dynamic and uninterrupted growth process, but technology itself is the product of mental labor …
Persistent link: https://www.econbiz.de/10005556709
The study of the stylized facts of economic growth has allowed an advance of this field of economic analysis in its empirical and theorical works. Today, Health Economics is faced with new requirements of society, i.e. better care at a sustainable cost. Furthermore, since the problems linked...
Persistent link: https://www.econbiz.de/10005076927
Economic phenomena are interrelated. From a growth perspective, time analysis concerning the choices of present and future consumption and the choices between the allocation of scientific resources should be combined with a space analysis regarding the dissemination of economic activity through...
Persistent link: https://www.econbiz.de/10005124884
, to choose how to allocate technological inputs. A technology choices model is developed, where scarce scientific … resources are alternatively allocated to basic science activities and to applied technology uses. We find that saddle path … objective function, that is, for a second-order Taylor series approximation of a felicity function regarding technology …
Persistent link: https://www.econbiz.de/10005124964
The relations between the riches of nations and the riches of Productive Knowledge (Technology) gains increasing … production, i.e., technology or productive knowledge, gives occasion to a dynamic and uninterrupted growth process, but … technology itself is the product of mental labor. In support of this assertion, a simple model of growth based on productive …
Persistent link: https://www.econbiz.de/10005125665
workers. The paper shows technology has played the dominant role in changing employment patterns in Australia. The finding is …
Persistent link: https://www.econbiz.de/10005125725
After decades of slow growth since Independence from the British Raj, Indian economy registered its own small miracle, when growth rate of GDP per capita surpassed the long term growth rate of many advanced economies. What caused this miracle? In this paper, we search for an answer in the...
Persistent link: https://www.econbiz.de/10005126360
It is assumed that performance of production system can be described with the three variables: amount of production equipment -- capital stock $K$ and 'consumption' of labour L and capital services S. It is shown that the production function can be specified as the known Cobb- Douglas production...
Persistent link: https://www.econbiz.de/10005134973
The diffusion of modern, efficient technology has far-reaching consequences for the geography of economic activity … favorable to the rapid spread of new technology. The first states that latecomer advantage allows developing countries to … diffuse new technology faster than developed countries. The second claim, widely articulated by advocates of neo …
Persistent link: https://www.econbiz.de/10005062437
Recently there has been a growing tendency to impose curvature, but not monotonicity, on specifications of technology …, estimated flexible specifications of technology are much more likely to violate curvature than monotonicity. Hence it has been … our earlier results with a multiproduct financial technology specified to be generalized quadratic. In our earlier work …
Persistent link: https://www.econbiz.de/10005062564