@techreport{Strulik2009Knowledge,
abstract = {This paper proposes a theory for the evolution of knowledge diffusion and growth over the very long run. A feedback mechanism between capital accumulation and knowledge spillovers creates a unified growth theory that explains a long epoch of (quasi-) stasis and an epoch of high growth linked by gradual economic take-off. It is shown how the feedback mechanism can explain the Great Divergence, the failure of less developed countries to attract capital from abroad, the productivity slowdown in fully developed countries, and why R&D effort, TFP growth, and income growth are jointly rising along the transition towards modern growth. Finally, it is explained how a First Industrial Revolution, brought forth by increasing propositional knowledge, triggered a Second Industrial Revolution from which onwards technological progress was increasingly produced by market R&D activities.},
address = {Hannover},
author = {Holger Strulik},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {O10; O30; O40; E22; 330; Endogenous growth; knowledge spillovers; R&D; globalization; unified growth theory; productivity slowdown; roaring twenties},
language = {eng},
number = {414},
publisher = {Fachbereich Wirtschaftswiss., Univ.},
title = {Knowledge and growth in the very long-run},
type = {Discussion papers // School of Economics and Management of the Hanover Leibniz University},
url = {http://hdl.handle.net/10419/27223},
year = {2009}
}
