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Descrição Detalhada da Publicação
Modeling insurgent-incumbent dynamics: vector autoregressions, multivariate Markov chains, and the nature of technological competition
Título Documento
REM Working Paper 044-2018
Ano (publicação definitiva)
2018
Língua
Inglês
País
Portugal
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Abstract/Resumo
The struggle between sail and steam is a long-standing theme in economic history. But this technological competition story has only partly tackled, since most studies have appreciated the rivalry between the two alternative modes of commercial sea carriage in the late 19th century while the early period has remained relatively under-analysed. This paper models the early dynamics between the two capital goods using a vector autoregression approach (VAR) and a Multivariate Markov Chain approach (MMC). We find evidence that the relationship was nonlinear, with a strong indication of complementarities and cross-technology learning effects.
Agradecimentos/Acknowledgements
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Palavras-chave
Economic history,Technological competition,Sailing ships,Steamships,Vector autoregression,Multivariate Markov chains
Classificação Fields of Science and Technology
- Ciências Físicas - Ciências Naturais
Registos de financiamentos
Referência de financiamento | Entidade Financiadora |
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UID/GES/00315/2013 | Fundação para a Ciência e a Tecnologia |