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dc.contributor.authorBloch, Harry
dc.contributor.authorMangano, Maria
dc.contributor.authorCourvisanos, Jerry
dc.contributor.editorProf Jonathan Pincus
dc.identifier.citationBloch, Harry and Mangano, Maria and Courvisanos, Jerry. 2009. Innovation, obsolescence and profit as drivers of investment in Australian manufacturing, in Prof Jonathan Pincus (ed), 38th Australian conference of economists, Sep 28 2009. Adelaide, South Australia: The economic society of Australia (SA branch)

This paper combines Salter's analysis of capital-embodied technical change with Kalecki's analysis of financing investment from retained profits to provide a model of investment with innovation, which is applied to data from Australian manufacturing industries. In the estimated model, profit is used as a measure of the ability to invest, and the rate of technical change embodied in new equipment (i.e. process innovation) reveals the inducement to invest. These two factors combine to explain the accumulation process and its link to technical progress.

dc.publisherThe economic society of Australia (SA branch)
dc.subjectembodied technical change
dc.subjectvintage capital
dc.titleInnovation, obsolescence and profit as drivers of investment in Australian manufacturing
dc.typeConference Paper
dcterms.source.titleProceedings of the Australian conference of economists, 2009
dcterms.source.seriesProceedings of the Australian conference of economists, 2009
dcterms.source.conference38th Australian conference of economists
dcterms.source.conference-start-dateSep 28 2009
dcterms.source.conferencelocationAdelaide, South Australia
dcterms.source.placeAdelaide, South Australia
curtin.accessStatusOpen access
curtin.facultyCurtin Business School
curtin.facultySchool of Economics and Finance

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