Technological advance is often embodied in capital inputs. This paper develops a model where capital innovations occur on two margins: (1) vertically, where a c

In this wide ranging exposition of the various economic theories of technological change, Stanislaw Gomulka relates them to rates of growth experienced by diffe

The effect of vintage of capital on a multi-sectoral economic growth model is examined. First, the author extends the substitution theorem to a dynamic system w

A Brookings Institution Press and British-North American Committee publication Two hundred years ago, the first Industrial Revolution sparked a dramatic acceler

Based on data from 1950 to 1990 in newly industrializing and other Asian countries, proposes an operational framework to identify policy changes needed to produ