The concept of localized technological change is emerging at the
crossroads of different approaches to the economics of innovation and
new technologies. The term `localized technological change' refers to
the introduction of technological changes which make possible an
increase in total factor productivity within only a limited range of
techniques defined by the levels of factor intensity. This contrasts
with `generalized technological change', which is defined as the global
shift of all the techniques represented on the map of isoquants of the
neoclassical tradition.
The Economics of Localized Technological Change elaborates the notion
of localized technology with respect to firms, factor substitution,
sectors, regions and techniques. It also assesses the implications for
industrial policy, technology and innovation policy. The book will be of
interest to corporate policy makers, scholars of industrial organization
and economics of innovation as well as business school students.