Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/214924 
Year of Publication: 
2020
Series/Report no.: 
ICAE Working Paper Series No. 105
Publisher: 
Johannes Kepler University Linz, Institute for Comprehensive Analysis of the Economy (ICAE), Linz
Abstract: 
The accumulation of new technological capabilities is of high empirical relevance, both for the development of countries and the business success of firms. In this paper, we aim to delineate strategies how these processes of capability accumulation can be considered more accurately in comprehensive macroeconomic models. To this end, we conduct an interdisciplinary review of the literature specialized on capability accumulation by analyzing both empirical as well as theoretical literature on the firm and aggregated level. In doing so, we collect evidence various determinants and mechanisms of capability accumulation and align them with the current representation of capability accumulation in macroeconomic models. Based on these results, we make some suggestions on how macroeconomists may integrate these determinants derived from the specialized literature into their models.
Subjects: 
Capability accumulation
complexity
economic development
innovation
technological change
agent-based modeling
endogeneous growth
knowledge accumulation and learning
Document Type: 
Working Paper

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