Technology, Innovations and Growth
This book provides detailed empirical analysis of countries in Asia to examine various dynamic models that incorporate the impact of technology and innovations on the industry evolution and overall economic growth.
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Technology, Innovations and Growth Jati K. Sengupta
Palgrave
macmillan
© Jati K. Sengupta 2011 Softcover reprint of thehardcover 1st edition 2011 978-0-230-28550-7 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No portion of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, Saffron House, 6-10 Kirby Street, London EC1N 8TS. Any person who does any unauthorized act in relation to this publication may be liable to criminal prosecution and civil claims for damages. The author has asserted his right to be identified as the author of this work in accordance with the Copyright, Designs and Patents Act 1988. First published 2011 by PALGRAVE MACMILLAN Palgrave Macmillan in the UK is an imprint of Macmillan Publishers Limited, registered in England, company number 785998, of Houndmills, Basingstoke, Hampshire RG21 6XS. Palgrave Macmillan in the US is a division of St Martin’s Press LLC, 175 Fifth Avenue, New York, NY 10010. Palgrave Macmillan is the global academic imprint of the above companies and has companies and representatives throughout the world. Palgrave® and Macmillan® are registered trademarks in the United States, the United Kingdom, Europe and other countries.
ISBN 978-1-349-33066-9 DOI 10.1057/9780230295254
ISBN 978-0-230-29525-4 (eBook)
This book is printed on paper suitable for recycling and made from fully managed and sustained forest sources. Logging, pulping and manufacturing processes are expected to conform to the environmental regulations of the country of origin. A catalogue record for this book is available from the British Library. A catalog record for this book is available from the Library of Congress. 10 9 8 7 6 5 4 3 2 1 20 19 18 17 16 15 14 13 12 11
To Ramakrishna Sarada With Devotion and Love
Contents List of Figures and Tables
viii
Preface
xi
1 Technology and Economic Growth
1
2 Innovations and Industry Growth
23
3
Knowledge Diffusion and Learning by Doing
55
4
Innovation Efficiency in Asia
88
5
Efficiency Dynamics and Industry Growth
114
6 Time Series Tests of the AK Model of Endogenous Growth
144
References
185
Index
193
vii
Figures and Tables
Figures 6.1
Time series graphs for countries consistent with the AK theory of growth (except China) 6.2 Time series properties of growth rate and investment rate in China 6.3 Sectoral distribution of output, China 6.4 Capital output ratio
156 157 160 160
Tables 1.1 1.2 1.3 2.1 2.2 2.3 2.4 2.5
2.6 2.7
2.8 2.9 3.1
Decomposition of average annual TFP growth-rates (%) Parameter estimates of production function Rates of TFP growth Cost frontier estimates of selected pharmaceutical firms (1981–2000) Number of efficient pharmaceutical firms with efficient TC, AC and R&D Effect of R&D spending on firm performance FDI model f
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