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Complete versions of this CEP discussion paper are available in
Zipped (Type1) Postscript [116k],
(ordinary) PDF
[61 pages, 341k]
format.
It is also
CEPR DP#3207
and was a
public lecture delivered as part of the University of Hong Kong's
90th
Anniversary Celebrations.
Published: Technology and the New Economy,
(eds. Chong-En Bai and Chi-Wa Yuen) 2002, Chapter 3, pp. 95--156.
MIT Press, Cambridge
CEP DISCUSSION PAPER NO.522 February 2002
Technology and Growth
Technology Dissemination and Economic Growth: Some Lessons for
the New Economy
D. Quah
This paper attempts to draw lessons for the New Economy
from what economists know about technology dissemination
and economic growth.
The paper argues that what is most notable about the New
Economy is that it is knowledge-driven, not in the sense
that knowledge now
assumes increasing importance in production, thereby raising
productivity.
Instead, it is that consumption occurs increasingly in goods
that are like knowledge---computer software, video
entertainment, gene sequences, Internet-delivered goods and
services---where material physicality matters little.
That knowledge is aspatial and nonrival is key.
Understanding the effective exchange and dissemination of
such knowledge-products will matter more than
resolving the so-called productivity paradox.
If you like this kind of thing, then you might also like
Digital goods and the New Economy,
The weightless economy in development,
The weightless economy in growth,
and
Increasingly weightless
economies.
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