Full Citation
Title: The Many Factors of Growth: How Innovation Plays a Part
Citation Type: Journal Article
Publication Year: 2018
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Abstract: Innovation has increased dramatically since the advent of the 1765 steam machine. Today, we possess technology that can process millions of instructions in a matter of seconds. Endogenous growth theory has stressed the importance of technological change and education as a source of economic growth. Thanks to technological innovation and the related economic growth, many people are better off today than before. However, computers cannot mimic human capacity in creativity and the ability to envision new solutions to existing problems. The rate at which workers use these unique capabilities is industry related. Therefore, in this study I relate the proportion of workers in each industry to known industry level innovation rates to predict economic growth rates at the local level. This study is especially important, as it guides policy makers as to what incentives they might use to attract new industries to bolster their future economic well being. Specifically, this study analyzes how innovation and other factors impact growth in the United States through the years 2005-2015 at the Metropolitan Statistical Area (MSA) using a lagged first-difference quantitative statistical model. This model is well matched to the structure of the data in revealing causality between the independent variables and the dependent. Results indicate no significant relationship between innovation, as measured . . .
Url: https://escholarship.org/uc/item/7242937s
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Authors: Godoy, Mariela
Periodical (Full): UC Merced Undergraduate Research Journal
Issue: 2
Volume: 10
Pages: 1-13
Data Collections: IPUMS USA
Topics: Labor Force and Occupational Structure, Other
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