Organizing growth

• 成果类型: Article
• 署名作者: Garicano, Luis; Rossi-Hansberg, Esteban
• 署名单位: Princeton University; Princeton University; University of London; London School Economics & Political Science; University of London; London School Economics & Political Science; University of London; London School Economics & Political Science
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1016/j.jet.2009.11.007
• 发表日期: 2012
• 页码: 623-656
• 关键词: organization; KNOWLEDGE; productivity growth; Information and communication technology; innovations

摘要

We propose a framework to study the impact of information and communication technology on growth through its impact on organization and innovation. Agents accumulate knowledge to use available technologies and invent new ones. The use of a technology requires the development of organizations to coordinate the work of experts, which takes time. We find that while advances in information technology always increase growth, improvements in communication technology may lead to lower growth and even to stagnation, since the payoff to exploiting available technologies through organizations increases relative to the payoff from developing new innovations. (C) 2009 Elsevier Inc, All rights reserved.