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Research projects

The long cycles of innovations, growth and the productivity gap between Europe and the United States

9th National Competition for the Award of Research Grants in Economics

International economics

Senior Researcher : Klaus Desmet

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Research Centre or Institution : Universidad Carlos III de Madrid.

Abstract

The aim of the project is to analyse and understand: a) how long-term growth can be sustained even if employment tends to move towards low-productivity sectors; b) how we can explain the increase in the productivity of services in the past decade and a half in the United States; c) how major technological changes arise endogenously; d) why there is resistance to the adoption of new technologies.

Results

  • An initial article developed a spatial model of endogenous growth, demonstrating that structural transformation can explain the rise in productivity in the services sector. The model also demonstrates that there is a close relationship between the geographical distribution of the economic activity and growth.
  • A second article analysed the relationship between market size, the level of competition and resistance to the adoption of new technologies. It is argued that resistance arises in medium-sized markets. Empirical evidence is provided about guilds, consistent with the theory.
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