Factor Income Distribution and Endogenous Economic Growth:  Piketty Meets Romer

Irmen, Andreas; Tabakovic, Amer

doi:10.1111/ecin.12850

Cited by 2 publications

(1 citation statement)

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“…For the measurement of biased technological progress, the following methods are available. The first method is the constant elasticity of the substitution production function [20,21]. Klump [22] used the CES technique to gauge technological progress in the United States and discovered a labor bias.…”

Section: Literature Reviewmentioning

confidence: 99%

Impact of Energy-Biased Technological Progress on Inclusive Green Growth

Qian

2022

Sustainability

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Inclusive green growth is a sustainable development approach that pursues the coordination of economic growth, the ecological environment, and social equity, which is conducive to solving the problems of environmental pollution and unbalanced economic growth in the industrialization process. Based on provincial data from 2005 to 2020 in China, this study examines the impact of energy-biased technological progress on inclusive green growth and explores the mechanism of its effects from the perspective of industrial structure upgrading using a panel regression model and mediating effect model. The results show the following: (1) China’s technological progress is characterized by energy-biased technological progress and the level of inclusive green growth is gradually increasing. (2) Energy-biased technological progress can positively contribute to inclusive green growth and is heterogeneous over time and space. (3) Energy-biased technological progress can promote inclusive green growth through industrial structure advancement and industrial structure cleanliness, and the two mechanisms are complementary. This article considers the biased characteristics of technological progress and the impact of industrial structure cleanliness on inclusive green growth and provides a reference for developing countries to achieve inclusive green growth.

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Section: Literature Reviewmentioning

confidence: 99%

Impact of Energy-Biased Technological Progress on Inclusive Green Growth

Qian

2022

Sustainability

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Wealth Inequality in the Long Run: A Schumpeterian Growth Perspective

Madsen

Minniti

Venturini

2020

The Economic Journal

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This paper extends the analysis of the wealth-income ratio based on the neoclassical model in a Schumpeterian growth framework in which savings are channelled to both tangible and intangible capital investment. Using historical data for 21 OECD countries over the period 1860-2015, we find that the wealth-income ratio and, hence, wealth inequality, is negatively related to the rate of economic growth and positively related to the rates of investment in intangible and tangible assets, as predicted by the theory. Accounting for the innovation-induced counteracting growth-effect on the wealth-income ratio, we show that the net effect of investment in intangibles on wealth inequality is positive. Our estimates suggest that intangibles have been a contributing factor in wealth inequality since 1860 and that the marked increase in the investment in intangible assets in the post-WWII period has been a significant driver of wealth inequality since the 1970s.

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Factor Income Distribution and Endogenous Economic Growth: Piketty Meets Romer

Cited by 2 publications

References 35 publications

Impact of Energy-Biased Technological Progress on Inclusive Green Growth

Impact of Energy-Biased Technological Progress on Inclusive Green Growth

Wealth Inequality in the Long Run: A Schumpeterian Growth Perspective

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