Publication Type
Working Paper
Version
publishedVersion
Publication Date
7-2002
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.
Keywords
network, diffusion, growth, IT, new economy
Discipline
Economics | Growth and Development | Technology and Innovation
Research Areas
Macroeconomics
Volume
08-2002
First Page
1
Last Page
24
Publisher
SMU Economics and Statistics Working Paper Series, No. 8-2002
City or Country
Singapore
Citation
LEUNG, Hing-Man.
The Implications of Technology Networks on Diffusion and Economic Growth. (2002). 08-2002, 1-24.
Available at: https://ink.library.smu.edu.sg/soe_research/696
Copyright Owner and License
Authors
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.