Autori
Antonelli, Cristiano
Fassio, Claudio

Titolo
Globalization and The Knowledge Driven Economy
Periodico
Università degli studi di Torino. Dip. Di Economia e Statistica Cognetti de Martiis. Working paper series
Anno: 2014 - Volume: 6 - Fascicolo: 18 - Pagina iniziale: 1 - Pagina finale: 28

The paper implements the Schumpeterian notion of creative reaction to articulate and test the hypothesis that the shift to the knowledge economy in advanced economies is the result of the creative reaction of firms, caught in out - of - equilibrium conditions by the fast globalization of product and factor markets since the last decades of the XX century. Advanced countries specialized in the generation and exploitation of knowledge because of its relative bundance stemming from their sophisticated knowledge governance mechanisms and the larges tock of knowledge. On its turn this had strong positive effects on TFP . The empirical analysis confirms that in advanced economies the Specialization in knowledge - based activities substituted the previous specialization in mass - manufacturing activities supporting the increase of TFP. The new specialization in knowledge intensive activities has been stronger the larger was the exposition to international trade, the intensity of patent activities and the revenue per capita.



Testo completo: http://www.est.unito.it/do/home.pl/Download?doc=/allegati/wp2014dip/wp_18_2014.pdf

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