Technological Breakthroughs and Productivity Growth

Abstract

Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in Forthcoming in: Research in Economic HistoryAbstract:This study consists of an examination of productivity growth following three major technological breakthroughs: the steam power revolution, electrification and the ICT revolution. The distinction between sectors producing and sectors using the new technology is emphasized. A major finding for all breakthroughs is that there is a long lag from the time of the original invention until a substantial increase in the rate of productivity growth can be observed. There is also strong evidence of rapid price decreases for steam engines, electricity, electric motors and ICT products. However, there is no persuasive direct evidence that the steam engine producing industry and electric machinery had particularly high productivity growth rates. For the ICT revolution the highest productivity growth rates are found in the ICT-producing industries. We suggest that one explanation could be that hedonic price indexes are not used for the steam engine and the electric motor. Still, it is likely that the rate of technological development has been much more rapid during the ICT revolution compared to any of the previous breakthroughs.

Endogenous growth through knowledge spillovers in entrepreneurship: an empirical test

“…The half decade from 1995 to 2000 was a period of extraordinary growth in the economy overall, driven largely by information and communication technology (ICT) production value added (Edquist and Henrekson, 2006). Investigating the effect of entrepreneurship on growth during the same period provides a conservative test of our model of knowledge spillovers at both industry and firm levels.…”

Do R&D and ICT affect total factor productivity growth differently?

“…There is an extensive literature investigating spillover effects from ICT and R&D. Most suggesting that there is a delayed productivity effect from technology investment (David 1990;Edquist and Henrekson 2006). One reason could be that complementary investments such as organizational capital are necessary to reap the productivity effects from investments in new technology (Brynjolfsson and Hitt 2003).…”

“…2 full productivity effects from spillovers from ICT and other general purpose technologies are attained (David 1990;Brynjolfsson and Hitt 2003;Edquist and Henrekson 2006).…”

Ambientes Colaborativos Virtuais: potencial das redes sociais. O caso das empresas do Algarve

“…Destas mudanças advêm grandes vantagens para as empresas, dado que a tecnologia é uma das principais ferramentas utilizadas pelas empresas para inovar. Diversos estudos empíricos comprovam as ligações entre TI, inovação e o sucesso competitivo das PME (Edquist & Henrekson, 2006).…”