Innovation, obsolescence and profit as drivers of investment in Australian manufacturing
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, prof...
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| Format: | Conference Paper |
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The economic society of Australia (SA branch)
2009
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| Online Access: | http://hdl.handle.net/20.500.11937/42460 |
| _version_ | 1848756425638019072 |
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| author | Bloch, Harry Mangano, Maria Courvisanos, Jerry |
| author2 | Prof Jonathan Pincus |
| author_facet | Prof Jonathan Pincus Bloch, Harry Mangano, Maria Courvisanos, Jerry |
| author_sort | Bloch, Harry |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | 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. |
| first_indexed | 2025-11-14T09:12:00Z |
| format | Conference Paper |
| id | curtin-20.500.11937-42460 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T09:12:00Z |
| publishDate | 2009 |
| publisher | The economic society of Australia (SA branch) |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-424602017-01-30T14:59:51Z Innovation, obsolescence and profit as drivers of investment in Australian manufacturing Bloch, Harry Mangano, Maria Courvisanos, Jerry Prof Jonathan Pincus Kalecki embodied technical change vintage capital Salter investment 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. 2009 Conference Paper http://hdl.handle.net/20.500.11937/42460 The economic society of Australia (SA branch) fulltext |
| spellingShingle | Kalecki embodied technical change vintage capital Salter investment Bloch, Harry Mangano, Maria Courvisanos, Jerry Innovation, obsolescence and profit as drivers of investment in Australian manufacturing |
| title | Innovation, obsolescence and profit as drivers of investment in Australian manufacturing |
| title_full | Innovation, obsolescence and profit as drivers of investment in Australian manufacturing |
| title_fullStr | Innovation, obsolescence and profit as drivers of investment in Australian manufacturing |
| title_full_unstemmed | Innovation, obsolescence and profit as drivers of investment in Australian manufacturing |
| title_short | Innovation, obsolescence and profit as drivers of investment in Australian manufacturing |
| title_sort | innovation, obsolescence and profit as drivers of investment in australian manufacturing |
| topic | Kalecki embodied technical change vintage capital Salter investment |
| url | http://hdl.handle.net/20.500.11937/42460 |