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| Author: | Rigby, D. L. Webber, M. J. |
| Title: | The forms and determinants of technological change in US manufacturing |
| Journal: | Entrepreneurship & Regional Development
1997 : OCT-DEC, VOL. 9:4, p. 237-297 |
| Index terms: | TECHNOLOGICAL CHANGE INNOVATION COSTS COMPANIES MARKET STRUCTURE USA |
| Language: | eng |
| Abstract: | This article outlines an evolutionary model of process-induced technological change. The model identifies processes of innovation, selection, imitation, and entry and exit. The theoretical impact of the processes on the rate and direction of technological change is specified. The model is estimated for the US manufacturing sector 1965-1990 and for 20 individual manufacturing industries. The pace and direction of technical change has been dominated by the effects of selection and by the entry and exit of marginal firms rather than by innovation and imitation. The movement of production costs has been driven more by changes in the structure of the market within which manufacturing firms operate than by changes in the pace of technical change. |
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