earticle

영어

This paper considers how general-purpose technologies developed by government has effects on the rate of economic growth in terms of the endogenous growth theory model. This model has two kinds of technologies including general-purpose technologies affecting generally all industries and specific-purpose technologies utilized to a limited particular industry. Thus, general-purpose technologies refer to techniques which bring out the fundamental changes on the traditional economic and social structures. The main results are as follows: first, if the core technique of general-purpose technologies has high complementarity with the specific technologies and high spillover effects, it is more favorable to long-term economic growth for government directly to invest and manage the core techniques of general-purpose technologies. In addition, the general-purpose technologies are much better to be invested and controlled by government if the specific– purpose technologies need relatively high development costs. Second, in cases that the core technique of general-purpose technologies has lower complementarity and spillover effects on the specific technologies, the private sector has to invest and develop the specific-purpose technologies in order to get the higher rate of economic growth compared with the government controlled development of technology. Ruttan(2006) insists that government investment is essential elements to develop general-purpose technologies that require investment of huge scale for long-term periods. This paper proves the conditions on which the direct development and management of general-purpose technologies controlled by government is much favorable to economic growth. Of course, you should also consider the inefficiency of the management of the government, but the inefficiency of government management is not large so, this result can be a result of consistent well with reality.