NDLI: Bifurcation in economic growth between China and Europe: An explanation based on the evolution of division of labor

Content Provider	IEEE Xplore Digital Library
Author	Zhou Hai-ou
Copyright Year	2010
Description	Author affiliation: Department of Economics, Monash University (Zhou Hai-ou)
Abstract	This paper constructs an economic growth theory in which economic growth is driven by knowledge accumulation and endogenously determined by the evolutionary dynamics of division of labor between scientific research and material production. Distinguished from the existing growth models based on representative individual's intertemporal choice, this paper formulates economy as an evolutionary process to provide a new approach to modeling the interplay between economic growth and structural changes. The model simulates the dynamic process of the separation of scientific research from material production and investigates its impacts on the efficiency of knowledge creation and economic growth. It is shown that the difference in transaction costs and the degree of economies of specialization in material production between economies can result in distinct paths in growth and thus the bifurcation of civilization.
Starting Page	1719
Ending Page	1731
File Size	245657
Page Count	13
File Format	PDF
ISBN	9781424481163
ISSN	21551855
e-ISBN	9781424481194
DOI	10.1109/ICMSE.2010.5720013
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2010-11-24
Publisher Place	Australia
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Economics evolutionary dynamics JEL D20 Biological system modeling Humans economic growth Materials knowledge creation O40 division of labour Education Investments Production C73
Content Type	Text
Resource Type	Article

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