Adaptive economic growth
This paper develops an evolutionary theory of adaptive growth, understood as a product of structural change and economic self-transformation, based upon processes that are closely connected with but not reducible to the growth of knowledge. The dominant connecting theme is enterprise, the innovative...
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| Veröffentlicht in: | Cambridge journal of economics 2006-01, Vol.30 (1), p.7-32 |
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| container_end_page | 32 |
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| container_title | Cambridge journal of economics |
| container_volume | 30 |
| creator | Metcalfe, J. Stan Foster, John Ramlogan, Ronnie |
| description | This paper develops an evolutionary theory of adaptive growth, understood as a product of structural change and economic self-transformation, based upon processes that are closely connected with but not reducible to the growth of knowledge. The dominant connecting theme is enterprise, the innovative variations it generates and the multiple connections between investment, innovation, demand and structural transformation in the market process. The paper explores the dependence of macroeconomic productivity growth on the diversity of technical progress functions and income elasticities of demand at the industry level, and the resolution of this diversity into patterns of economic change through market processes. It is shown how industry growth rates are constrained by higher-order processes of emergence that convert an ensemble of industry growth rates into an aggregate rate of growth. The growth of productivity, output and employment are determined mutually and endogenously, and their values depend on the variation in the primary causal influences in the system. |
| doi_str_mv | 10.1093/cje/bei055 |
| format | Article |
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It is shown how industry growth rates are constrained by higher-order processes of emergence that convert an ensemble of industry growth rates into an aggregate rate of growth. 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Stan</creatorcontrib><creatorcontrib>Foster, John</creatorcontrib><creatorcontrib>Ramlogan, Ronnie</creatorcontrib><title>Adaptive economic growth</title><title>Cambridge journal of economics</title><addtitle>Camb. J. Econ</addtitle><description>This paper develops an evolutionary theory of adaptive growth, understood as a product of structural change and economic self-transformation, based upon processes that are closely connected with but not reducible to the growth of knowledge. The dominant connecting theme is enterprise, the innovative variations it generates and the multiple connections between investment, innovation, demand and structural transformation in the market process. The paper explores the dependence of macroeconomic productivity growth on the diversity of technical progress functions and income elasticities of demand at the industry level, and the resolution of this diversity into patterns of economic change through market processes. It is shown how industry growth rates are constrained by higher-order processes of emergence that convert an ensemble of industry growth rates into an aggregate rate of growth. The growth of productivity, output and employment are determined mutually and endogenously, and their values depend on the variation in the primary causal influences in the system.</description><subject>Adaptation</subject><subject>Aggregates</subject><subject>Competitive advantage</subject><subject>Demand functions</subject><subject>Economic growth</subject><subject>Economic growth rate</subject><subject>Economic growth theories</subject><subject>Economic models</subject><subject>Economic theory</subject><subject>Elasticity of demand</subject><subject>Employment</subject><subject>Evolution and growth</subject><subject>Evolutionary economics</subject><subject>Growth theory</subject><subject>Increasing returns</subject><subject>Industrial growth</subject><subject>Industrial market</subject><subject>Industrial output</subject><subject>Industrial productivity</subject><subject>Industry</subject><subject>Innovations</subject><subject>Investment</subject><subject>Knowledge</subject><subject>Macroeconomics</subject><subject>Productivity</subject><subject>Productivity growth</subject><subject>Returns to scale</subject><subject>Structural change</subject><subject>Studies</subject><subject>System theory</subject><subject>Technical progress</subject><subject>Technological change</subject><issn>0309-166X</issn><issn>1464-3545</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2006</creationdate><recordtype>article</recordtype><recordid>eNpdkEtLw0AUhQdRsFY3rtwIxYULIXbekyxLUSsGFFEpbobJ5EYT2047k_r4906JdCF3cRffx-FwEDom-JLgjA1tA8MCaizEDuoRLnnCBBe7qIcZzhIi5XQfHYTQYIy5UqqHTkalWbb1JwzAuoWb13bw5t1X-36I9iozC3D09_vo-frqaTxJ8vub2_EoTyznqk2oBVrQUlaGxBMyS6lKCeMlq9JCUks4N2BMVRoiCymFTbNYqABglbU4layPzrvcpXerNYRWz-tgYTYzC3DroFlKY4YQUTz7JzZu7Rexm6YE84xtBuiji06y3oXgodJLX8-N_9EE642g40K6WyjKp53chNb5rUmZxCQjOPKk43Vo4XvLjf_QUjEl9GT6qvMHOSGPd7l-Yb-UaHEC</recordid><startdate>200601</startdate><enddate>200601</enddate><creator>Metcalfe, J. Stan</creator><creator>Foster, John</creator><creator>Ramlogan, Ronnie</creator><general>Oxford University Press</general><general>Oxford Publishing Limited (England)</general><scope>BSCLL</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>8BJ</scope><scope>FQK</scope><scope>JBE</scope></search><sort><creationdate>200601</creationdate><title>Adaptive economic growth</title><author>Metcalfe, J. Stan ; Foster, John ; Ramlogan, Ronnie</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c447t-2ce2b2d6fa1a1a5698278134d3f8b62c144aeaafda16b665c89545bee3fcc0863</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2006</creationdate><topic>Adaptation</topic><topic>Aggregates</topic><topic>Competitive advantage</topic><topic>Demand functions</topic><topic>Economic growth</topic><topic>Economic growth rate</topic><topic>Economic growth theories</topic><topic>Economic models</topic><topic>Economic theory</topic><topic>Elasticity of demand</topic><topic>Employment</topic><topic>Evolution and growth</topic><topic>Evolutionary economics</topic><topic>Growth theory</topic><topic>Increasing returns</topic><topic>Industrial growth</topic><topic>Industrial market</topic><topic>Industrial output</topic><topic>Industrial productivity</topic><topic>Industry</topic><topic>Innovations</topic><topic>Investment</topic><topic>Knowledge</topic><topic>Macroeconomics</topic><topic>Productivity</topic><topic>Productivity growth</topic><topic>Returns to scale</topic><topic>Structural change</topic><topic>Studies</topic><topic>System theory</topic><topic>Technical progress</topic><topic>Technological change</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Metcalfe, J. Stan</creatorcontrib><creatorcontrib>Foster, John</creatorcontrib><creatorcontrib>Ramlogan, Ronnie</creatorcontrib><collection>Istex</collection><collection>CrossRef</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>International Bibliography of the Social Sciences</collection><collection>International Bibliography of the Social Sciences</collection><jtitle>Cambridge journal of economics</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Metcalfe, J. Stan</au><au>Foster, John</au><au>Ramlogan, Ronnie</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Adaptive economic growth</atitle><jtitle>Cambridge journal of economics</jtitle><addtitle>Camb. J. 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It is shown how industry growth rates are constrained by higher-order processes of emergence that convert an ensemble of industry growth rates into an aggregate rate of growth. The growth of productivity, output and employment are determined mutually and endogenously, and their values depend on the variation in the primary causal influences in the system.</abstract><cop>Oxford</cop><pub>Oxford University Press</pub><doi>10.1093/cje/bei055</doi><tpages>26</tpages><oa>free_for_read</oa></addata></record> |
| fulltext | fulltext |
| identifier | ISSN: 0309-166X |
| ispartof | Cambridge journal of economics, 2006-01, Vol.30 (1), p.7-32 |
| issn | 0309-166X 1464-3545 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_38214455 |
| source | Jstor Complete Legacy; Oxford University Press Journals All Titles (1996-Current) |
| subjects | Adaptation Aggregates Competitive advantage Demand functions Economic growth Economic growth rate Economic growth theories Economic models Economic theory Elasticity of demand Employment Evolution and growth Evolutionary economics Growth theory Increasing returns Industrial growth Industrial market Industrial output Industrial productivity Industry Innovations Investment Knowledge Macroeconomics Productivity Productivity growth Returns to scale Structural change Studies System theory Technical progress Technological change |
| title | Adaptive economic growth |
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