High-tech and High Capability in a Growth Model
Tong, Jian (2005) High-tech and High Capability in a Growth Model. International Economic Review, 46, (1), 215-243. (doi:10.1111/j.0020-6598.2005.00316.x).
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Description/Abstract
A growth model is developed to substantiate the conventional wisdom that regards high-tech high-capability firms as an engine of sustained technological progress. High-tech industries are characterized by abounding technological opportunities, which promote endogenous high capability firms due to a competitive escalation mechanism. While high-tech high-capability firms capitalize on and discharge the existing innovation potentials, they also contribute to recharge (due to knowledge spillovers). They are a source of growth and high wage rate. An inquiry into the reasons why the high-tech/high-capability growth mechanism is not widely adoptable across countries points to the role of the underlying corporate governance systems.
| Item Type: | Article |
|---|---|
| ISSNs: | 0020-6598 (print) |
| Related URLs: | |
| Subjects: | T Technology > T Technology (General) H Social Sciences > HF Commerce H Social Sciences > HG Finance |
| Divisions: | University Structure - Pre August 2011 > School of Social Sciences > Economics |
| Item ID: | 33792 |
| Date Deposited: | 15 May 2006 |
| Last Modified: | 31 May 2011 23:53 |
| Contributors: | Tong, Jian (Author) |
| Date: | 2005 |
| Status: | Published |
| Contact Email Address: | j.tong@soton.ac.uk |
| URI: | http://eprints.soton.ac.uk/id/eprint/33792 |
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