Autore
Antonelli, CristianoTitolo
Globalization Localized Technological Change and the Knowledge EconomyPeriodico
Università degli studi di Torino. Dip. Di Economia e Statistica Cognetti de Martiis. Working paper seriesAnno:
2013 - Volume:
5 - Fascicolo:
25 - Pagina iniziale:
1 - Pagina finale:
26This work elaborates a dynamic version of the H-O model based upon the hypothesis that technological change is endogenous and biased towards the most intensive use of production factors that are locall
y most abundant in comparative terms.
In the standard H-O model, the difference in the levels of the output elasticity of inputs
is assumed to be exogenous. In this dynamic version, instead, this difference is fully
endogenous. This approach rests upon the localized technological change approach that
integrates the advances of the new economic of knowledge with the Schumpeterian
notion of creative reaction, the analysis of induced technological change and technological congruence. According to the Schumpet erian notion of innovation as the
result of the creative reaction, firms caught in out-of-equilibrium conditions by the changing conditions of both factor and product markets might try and react by means of the introduction of biased technological changes directed towards the most intensive use of inputs that are locally most abundant in relative terms. Their success and hence the actual introduction of technological innovations will depend upon the availability of appropriate knowledge externalities. According to this framework, countries exposed the out-of-equilibrium conditions engendered by the globalization of product markets can react with the successful introduction of innovations aimed at increasing the intensity of capital -the most abundant input- with the increase of its output elasticity.
For the same token they can contrast the twin globalization of capital and product
markets with the introduction of the technology production function that makes
intensive use of technological knowledge as the most abundant input. Technological
knowledge in fact is characterized by its strong collective and systemic character that
limits its dissemination and use outside its context of origin
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