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| Investment-specific technological progress ： ウィキペディア英語版 |
Investment-specific technological progress
Investment-specific technological progress refers to progress that requires investment in new equipment and structures embodying the latest technology in order to realize its benefits.
==Introduction==
To model how something is produced, think of a box that in one end takes in inputs such as labor (employees) and capital (equipment, buildings, etc.) and in another end spits out the final good. With this picture in mind now one can ask, how does technological progress affect production? One way of thinking is that technological progress affects ''specific'' inputs (arrows going in) such as equipment and buildings. To realize the benefits of such technological change for production, these inputs must be purchased. So for example, the advent of the microchip (an important technological improvement in computers) will affect the production of Ford cars only if Ford Motor Co.'s assembly plants (the red box) invest in computers with microchips (instead of computers with punched cards) and use them (they are one of the arrows going in the box) in the production of Mustangs (the arrow coming out). As the name suggests, this is ''investment-specific'' technological progress---it requires investing in new machines or buildings which contain or ''embody'' the latest technology. Notice that the term ''investment'' can be general: not only must a firm buy the new technology to reap its benefits, but it also must invest in training its workers and managers to be able to use this new technology (Greenwood & Jovanovic 2001) .
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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