Estimating the National Economic Effect of a New Technology

  • L M. Gatovskiy
Part of the International Economic Association Conference Volumes, Numbers 1–50 book series (IEA)


As in the case of the efficiency of production taken as a whole, the efficiency of any technology with given targets of production takes the form of progressive reduction of costs. Essentially this means reduction of specific costs (the total of current and capital costs appropriately defined) achieved by the application of the new technology and measured by cost per unit of production using the new technology. Any raising of the quality of the product is assumed to be reflected in its price.


Payoff Period Capital Investment Capital Cost National Economy Technological Progress 
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Copyright information

© International Economic Association 1973

Authors and Affiliations

  • L M. Gatovskiy
    • 1
  1. 1.Institute of EconomicsMoscowRussia

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