Handbook on the Economic Complexity of Technological Change
Show Less

Handbook on the Economic Complexity of Technological Change

Edited by Cristiano Antonelli

This comprehensive and innovative Handbook applies the tools of the economics of complexity to analyse the causes and effects of technological and structural change. It grafts the intuitions of the economics of complexity into the tradition of analysis based upon the Schumpeterian and Marshallian legacies.
Buy Book in Print
Show Summary Details
You do not have access to this content

Chapter 17: The Complex Dynamics of Economic Development

Verónica Robert and Gabriel Yoguel


Verónica Robert and Gabriel Yoguel1 1. INTRODUCTION In recent decades, the complexity approach has been adopted to explain some characteristics of evolutionary micro-dynamics by different heterodox authors (Silverberg et al., 1988; Dosi, 1991; Dosi and Kaniovski, 1994; Dosi and Nelson, 1994; Foster, 1993, 2005; Witt, 1997; Antonelli, 2007). According to them, taking complex systems as a framework allows an understanding of the morphology and dynamics of innovation systems characterized by (i) micro-heterogeneity in terms of competencies and linkages, (ii) temporal irreversibility, as a result of a dynamic driven by a non-ergodic path dependence, (iii) disequilibrium, non-linear interactions and feedbacks and (iv) the presence of institutional rules. Nevertheless, some authors of the old development school and post-Keynesian economics have already dealt with some of these features, especially those related to macrocomplexity. Kaldor (1972), Myrdal (1957), Prebisch (1959) and Hirschman (1958), among others, had already considered the effects of the economic structure on development, temporal and structural irreversibility, and the existence of divergent dynamics between countries and regions, reinforced by feedback effects between product growth and productivity (Kaldor–Verdoorn law), demonstrating that disequilibrium and nonlinear dynamics have a long tradition in the heterodox streams of economic thought. New emerging literature on development (Ocampo, 2005; Amsden, 2004; Reinert 2007; Cimoli and Porcile, 2009, among others) showed the necessity for the integration of the microeconomic-complexity described by neo-Schumpeterian and evolutionary theories of innovation and the macro-complexity reflected in Latin American structuralism. For example, some of these authors insist on the importance of studying...

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information

or login to access all content.