Publication Type

Working Paper

Publication Date

2002

Abstract

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.

Discipline

Economics

Research Areas

Econometrics

Creative Commons License

Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.

Included in

Economics Commons

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