Technology Transfer to Developing Countries With Special Reference to the Economy of the Republic of China
Technology Transfer to Developing Countries With Special Reference to the Economy of the Republic of China
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In our eReader you can find the full English version of the book. Read Technology Transfer to Developing Countries With Special Reference to the Economy of the Republic of China Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Technology Transfer to Developing Countries With Special Reference to the Economy of the Republic of China
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A diminishing capital cost induced domestic and foreign firms to investment and the relative factor proportion also changed in favoring the adoption of more productive processes of a higher capital intensity. In sum, it brought in two effects, relative fac- tor prices effect and technology effect on the economy.
As mentioned, the relative factor prices effect induces capital intensity which affects the technology and always results in labor saving; while the technology effect brings about an ac...celeration of the rate of growth of overall factor efficiency and the possibility of increasing returns to scale which could be gained with the expan- sion of output. As to an increase in the elasticity of factor sub- stitution, it can be labor-saving or capi tal -saving, depending upon whether capital is growing faster than labor or vice-versa. If cap- ital is growing more rapidly in an economy than labor, a rise in the elasticity of substitution raises the marginal product of capital relative to that of labor, and we have capital-using (labor-saving) technological change.
What to read after Technology Transfer to Developing Countries With Special Reference to the Economy of the Republic of China?
You can find similar books in the "Read Also" column, or choose other free books by Lee, Daniel Tien-Pei to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
A diminishing capital cost induced domestic and foreign firms to investment and the relative factor proportion also changed in favoring the adoption of more productive processes of a higher capital intensity. In sum, it brought in two effects, relative fac- tor prices effect and technology effect on the economy.
As mentioned, the relative factor prices effect induces capital intensity which affects the technology and always results in labor saving; while the technology effect brings about an ac...celeration of the rate of growth of overall factor efficiency and the possibility of increasing returns to scale which could be gained with the expan- sion of output. As to an increase in the elasticity of factor sub- stitution, it can be labor-saving or capi tal -saving, depending upon whether capital is growing faster than labor or vice-versa. If cap- ital is growing more rapidly in an economy than labor, a rise in the elasticity of substitution raises the marginal product of capital relative to that of labor, and we have capital-using (labor-saving) technological change.
What to read after Technology Transfer to Developing Countries With Special Reference to the Economy of the Republic of China?
You can find similar books in the "Read Also" column, or choose other free books by Lee, Daniel Tien-Pei to read onlineMoreLess
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