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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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.
|Digital Object Identifier (DOI):||doi:10.1111/j.0020-6598.2005.00316.x|
|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
|Date Deposited:||15 May 2006|
|Last Modified:||31 Mar 2016 12:00|
|RDF:||RDF+N-Triples, RDF+N3, RDF+XML, Browse.|
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