This volume is an updated version of Link’s 1987 monograph, Technological Change and Productivity Growth. It appears that there is much to update and extend, given the burgeoning literature on new growth theory and renewed interest in explaining the determinants of overall economic growth. There has also been the development of new empirical methods to assess the relationship between technological change and productivity growth and economic performance, as well as recognition that technological change is often accompanied by organizational changes that can have an influence on economic performance. Each of these topics is considered in great detail in this volume.
This volume, like the 1987 monograph, begins by presenting some basic analytical concepts related to technological change and productivity growth that provide the foundation for this body of literature. Greater availability of microeconomic data sets and increased computing power has resulted in a surge of empirical work on technological change and productivity growth. Unfortunately, it appears that many newly minted PhDs are ignoring much of the pioneering foundation work in this field, especially in the old growth theory literature. This is due, in part, to the fact that they may not have been exposed to this work. Furthermore, there has been no systematic attempt to link the old and new growth theory literatures. We attempt to fill this gap in this volume.