Please use this identifier to cite or link to this item:
http://hdl.handle.net/10071/16496
Author(s): | Damásio, B. Mendonça, S. |
Date: | 2018 |
Title: | Modeling insurgent-incumbent dynamics: vector autoregressions, multivariate Markov chains, and the nature of technological competition |
Keywords: | Economic history Technological competition Sailing ships Steamships Vector autoregression Multivariate Markov chains |
Abstract: | 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. |
Peerreviewed: | no |
Access type: | Open Access |
Appears in Collections: | BRU-WP - Working papers |
Files in This Item:
File | Description | Size | Format | |
---|---|---|---|---|
REM_WP_044_2018.pdf | Versão Editora | 542,45 kB | Adobe PDF | View/Open |
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.