Danxia Xie and Buyuan Yang

Abstract

We build a novel endogenous growth model with information carrier technology, which can affect the degree of knowledge loss through storage and dissemination and thus influence innovation. In the asymptotic balanced growth path equilibrium, we establish two main findings. First, the growth rate of information carrier technology and the population growth rate are substitutes in determining the growth rate of output per capita and the proportion of labor allocated to research activities. Second, an increase in the population growth rate or the growth rate of information carrier technology will induce labor allocation bias toward research activities. Model calibration for 2,100 years indicates that along the transition path, sustained technological advances began in the year 1780, and economic growth took off 17 years later, corresponding to the start of the first Industrial Revolution. Our model helps to understand a core mechanism of the digital economy and provides a new explanation for the transition of the world economy from secular stagnation to modern growth, thus shedding new light on the Unified Growth Theory. Further theoretical discussions are extended to endogenous two-tier innovations of information carrier technology.

谢丹夏，清华大学社科学院经济所博士生导师。获芝加哥大学经济学博士，哈佛大学公共政策硕士，杜克大学计算机硕士（已完成全部博士课程），北京大学计算机硕士。从事数字经济、法律经济学、宏观、金融、国际经济学等领域的理论与政策研究。在数字经济领域研究涵盖：数据经济与宏观增长，平台经济与反垄断，数字技术与经济发展，金融科技，人工智能经济，芯片经济等。论文发表于American Economic Review、Management Science、《经济研究》等国内外顶级经济学、管理学期刊。首创提出“数据创新内生增长理论”、“监管增长理论”，在数字经济研究领域具有重要影响。曾任职于全球著名智库彼得森国际经济研究所。在北大期间，参与我国第一个CPU北大“中国芯”(1999年)的研发。现主持国家自然科学基金“数字平台动态对社会福利与金融稳定的影响”面上项目，参与“数字经济的博弈论基础”自科重大项目、及社科重大项目多项。