Emerging Tech

Technical Change And Industrial Dynamics As Evolutionary Processes

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Executive Summary

A wide ensemble of scholars, both in economics and several other disciplines, have been studying technological advance, viewed as an evolutionary process. This perspective on technological change is closely linked to recent research on industrial dynamics and on economic growth as processes intertwined with and driven by technological and organizational innovation. In this paper the authors lay out the basic premises of this research and review and integrate much of what has been learned on the processes of technological evolution, their main features and their effects on the evolution of industries.

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