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Vertical integration, technical progress and structural change
Cambridge Journal of Economics ( IF 2.273 ) Pub Date : 2024-01-06 , DOI: 10.1093/cje/bead052
Theo Santini 1 , Ricardo Azevedo Araujo 2
Affiliation  

In search of an alternative representation of the economic system, Pasinetti ended up with a notion of vertical integration (VI) that takes interdependencies as its starting point but does not explicitly consider their role in the unfolding structural economic dynamics (SED). In this paper, we show that SED may be more inclusive of such interrelations to appropriately consider VI as a tool for analysing economic systems under the conditions of technical change and structural transformation. Our strategy is to focus on Pasinetti’s shift from his original development building on Sraffa’s sub-systems to his formulation of VI in terms of a pure labour technology in which all goods are produced by labour only. To carry out the analysis, we resume his iterative algorithm of VI, showing that we can extend it to the case of an expanding economy as a bridge between the horizontal and vertical production representations. Following this route, we can effectively address the features of structural transformation associated with changing patterns of interdependence. Besides, we can go from an assessment of productivity growth at an industrial level to determining the pace of technical change in a vertically integrated sector (VIS), which allows focussing on a concept of productivity derived from the VI, labelled as the total labour productivity (TLP). The TLP is robust to outsourcing of production, whose effects are adequately dealt with insofar as it considers not only the direct but also the indirect labour required to produce the final output.

中文翻译:

纵向一体化、技术进步和结构变革

为了寻找经济体系的替代表示,帕西内蒂最终提出了垂直一体化(VI)的概念,该概念以相互依赖为出发点,但没有明确考虑它们在展开的结构性经济动态(SED)中的作用。在本文中,我们表明SED可能更包容这种相互关系,以适当地将VI视为分析技术变革和结构转型条件下经济系统的工具。我们的策略是关注帕西内蒂的转变,从他最初基于斯拉法子系统的开发转向他根据纯劳动技术制定VI,其中所有商品仅由劳动生产。为了进行分析,我们恢复了他的 VI 迭代算法,表明我们可以将其扩展到经济扩张的情况,作为水平和垂直生产表示之间的桥梁。沿着这条路线,我们可以有效地解决与相互依存模式变化相关的结构转型特征。此外,我们可以从评估工业层面的生产率增长转向确定垂直一体化部门(VIS)的技术变革步伐,这使得我们可以重点关注源自VI的生产率概念,即总劳动生产率(TLP)。TLP 对于生产外包是稳健的,其影响得到了充分的处理,因为它不仅考虑了生产最终产出所需的直接劳动力,还考虑了间接劳动力。
更新日期:2024-01-06
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