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Technology Differences over Space and Time (Hardcover)
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Technology Differences over Space and Time (Hardcover)
Series: CREI Lectures in Macroeconomics
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Technology Differences over Space and Time looks at how countries
use their productive resources--such as workers, skills, equipment
and structures, and natural resources. Francesco Caselli develops
methods to assess the efficiency with which productive inputs are
used, and how these efficiencies vary across countries and over
time. Caselli finds that richer countries use skilled workers
relatively more efficiently than unskilled workers, and equipment
and structures relatively more efficiently than natural resources.
They also are relatively more efficient users of labor than of
capital. Technological change tends to make countries particularly
efficient at using skills and less efficient at using capital.
Technical change also favors experienced workers. In order to
interpret and understand these findings, Caselli presents a theory
of technology choice. In this theory, firms pick technologies that
make the most efficient use of the most abundant production factors
when these factors are good substitutes for the less abundant
factors. Firms pick technologies that make the most of less
abundant factors when other suitable factors are not available for
substitution. For example, rich countries, where skilled workers
are abundant, use skilled workers efficiently, as these are good
substitutes for unskilled workers. This flexible framework can be
applied to other pairs of inputs, over time, and across countries.
Technology Differences over Space and Time has significant
implications not only for the theoretical understanding of
development and technological innovation, but also for government
formulation of industrial policy and multinationals making
decisions about what to invest in and where to make those
investments.
General
Imprint: |
Princeton University Press
|
Country of origin: |
United States |
Series: |
CREI Lectures in Macroeconomics |
Release date: |
December 2016 |
First published: |
2017 |
Authors: |
Francesco Caselli
|
Dimensions: |
216 x 140 x 19mm (L x W x T) |
Format: |
Hardcover - Trade binding
|
Pages: |
144 |
ISBN-13: |
978-0-691-14602-7 |
Categories: |
Books >
Business & Economics >
Economics >
Macroeconomics >
General
|
LSN: |
0-691-14602-0 |
Barcode: |
9780691146027 |
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