Keywords
evolution, economic structure, biotechnological change
Start Date
1-7-2004 12:00 AM
Abstract
There are obvious gaps between long-term change of economic structure and its principle drivingforce – technological progress. History has shown the influence of technological progress on economy andcurrent insights in technological development can almost foresee the coming technological waves in next 50years, but their possible impacts on economy are not yet assessed. In this paper, we define that RandDinvestment drives the development of biotechnology, capacity building brings new bio-technical processesinto sectoral production, new or old technical processes within a sector exchange their relative positions asphasing in and out, and sectors evolve or transform along time. An exercise on US economy will be done toassess potential influence of biotechnological progress in next 50 years.
The Evolution of Economic Structure Under Biotechnological Progress
There are obvious gaps between long-term change of economic structure and its principle drivingforce – technological progress. History has shown the influence of technological progress on economy andcurrent insights in technological development can almost foresee the coming technological waves in next 50years, but their possible impacts on economy are not yet assessed. In this paper, we define that RandDinvestment drives the development of biotechnology, capacity building brings new bio-technical processesinto sectoral production, new or old technical processes within a sector exchange their relative positions asphasing in and out, and sectors evolve or transform along time. An exercise on US economy will be done toassess potential influence of biotechnological progress in next 50 years.
