Resource title

Economic development, variety and employment

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Resource description

This paper studies qualitative change taking place during economic development. In the model presented qualitative change is created by the emergence of new sectors, each of which produces an output that is different from other sectors. A system with a variable number of sectors is simulated. The model predicts that under given conditions the evolution of a sector tends to follow a life cycle in both the number of firms and in terms of employment. The cyclical behavior is determined by the balance between the increasing intensity of competition, saturating demand and increasing returns to adoption. In its present form the model is a simplified representation of the economic system, but several improvements can be introduced in order to increase its degree of realism. (author's abstract) ; Series: Working Papers Series "Growth and Employment in Europe: Sustainability and Competitiveness"

Resource author

Pier Paolo Saviotti, Andreas Pyka

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Resource publish date

Resource language

en

Resource content type

application/pdf

Resource resource URL

http://epub.wu.ac.at/216/1/document.pdf

Resource license

Adapt according to the license agreement. Always reference the original source and author.