Based on Joseph Schumpeter’s theory of“creative destruction,”we constructed a multi-sectoral endogenous growth model that integrates the agriculture,manufacturing,and service sectors.Employing numerical simulation,...Based on Joseph Schumpeter’s theory of“creative destruction,”we constructed a multi-sectoral endogenous growth model that integrates the agriculture,manufacturing,and service sectors.Employing numerical simulation,we investigated the dynamic influence of technological innovation on the industrial structural transformation in two key aspects:the level of innovation and the research and development(R&D)efficiency within industries.Our findings indicate that technological innovation plays a pivotal role in advancing industrial structural transformation.Enhancements in both the level of innovation and R&D efficiency within industries are instrumental in fostering industrial structural transformation.Specifically,the enhancements in the level of innovation or R&D efficiency within the agricultural sector hasten its transition toward the manufacturing sector,while such enhancement within the manufacturing sector expedites its transition toward the service sector.However,such enhancements within the service sector tend to decelerate the transition from manufacturing to service.In light of this,it is essential to harness technological innovation to enhance the level of innovation and R&D efficiency in industries to facilitate the transition of traditional industries into high-value-added and emerging ones.Meanwhile,tailored technological innovation strategies should be implemented to boost a balanced industrial structural transformation within industries.展开更多
In this paper,following Blanchard and Fischer(1989),I investigate how the presence of the COVID-19 pandemic-the increase in the probability of death-may affect growth and welfare in a scale-invariant R&D-based Sch...In this paper,following Blanchard and Fischer(1989),I investigate how the presence of the COVID-19 pandemic-the increase in the probability of death-may affect growth and welfare in a scale-invariant R&D-based Schumpeterian model.Without money,the increase in the probability of death has no effect on long-run growth and a negative effect on welfare.By contrast,when money is introduced via the cash-in-advance(CIA)constraint on consumption,the increase in the probability of death decreases long-run growth and welfare under elastic labor supply.Calibration shows that the quantitative effect of an increase in the probability of death on welfare is much larger compared to that on growth.展开更多
基金supported by the project of the National Social Science Foundation of China entitled“Research on the Mechanism of Deep Integration of Modern Services Industry and Advanced Manufacturing Industry Driven by Digital Technology Innovation”(Project No.21BJY144).
文摘Based on Joseph Schumpeter’s theory of“creative destruction,”we constructed a multi-sectoral endogenous growth model that integrates the agriculture,manufacturing,and service sectors.Employing numerical simulation,we investigated the dynamic influence of technological innovation on the industrial structural transformation in two key aspects:the level of innovation and the research and development(R&D)efficiency within industries.Our findings indicate that technological innovation plays a pivotal role in advancing industrial structural transformation.Enhancements in both the level of innovation and R&D efficiency within industries are instrumental in fostering industrial structural transformation.Specifically,the enhancements in the level of innovation or R&D efficiency within the agricultural sector hasten its transition toward the manufacturing sector,while such enhancement within the manufacturing sector expedites its transition toward the service sector.However,such enhancements within the service sector tend to decelerate the transition from manufacturing to service.In light of this,it is essential to harness technological innovation to enhance the level of innovation and R&D efficiency in industries to facilitate the transition of traditional industries into high-value-added and emerging ones.Meanwhile,tailored technological innovation strategies should be implemented to boost a balanced industrial structural transformation within industries.
文摘In this paper,following Blanchard and Fischer(1989),I investigate how the presence of the COVID-19 pandemic-the increase in the probability of death-may affect growth and welfare in a scale-invariant R&D-based Schumpeterian model.Without money,the increase in the probability of death has no effect on long-run growth and a negative effect on welfare.By contrast,when money is introduced via the cash-in-advance(CIA)constraint on consumption,the increase in the probability of death decreases long-run growth and welfare under elastic labor supply.Calibration shows that the quantitative effect of an increase in the probability of death on welfare is much larger compared to that on growth.
