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A neo-Schumpeterian Approach to Why Growth Rates Differ

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  • Fulvio Castellacci

Abstract

The paper applies the neo-Schumpeterian long wave theory to the international dimension, with the purpose of studying growth rates differences across countries. It presents an aggregate growth model based on the competition between two technological paradigms, old and new, whose productivity trends follow a logistic path. The analytical properties of the model are studied through the use of simulation techniques, and they are then empirically investigated for the case of 21 oecd economies in the period 1890-1990. The econometric results indicate that the process of catching up, forging ahead and falling behind is the complex outcome of the adaptation of each country to the emerging technological paradigm. Countries differ in their timing of entry into the new long wave (dependent on their technological congruence), and in the speed at which the new paradigm diffuses and becomes dominant (dependent on their social capability, and on their facility for structural change). The earlier the entry and the faster the diffusion, the better will be the economic performance of the country relative to the others over the long wave growth process.

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Bibliographic Info

Article provided by Presses de Sciences-Po in its journal Revue économique.

Volume (Year): 55 (2004)
Issue (Month): 6 ()
Pages: 1145-1169

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Handle: RePEc:cai:recosp:reco_556_1145

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Web page: http://www.cairn.info/revue-economique.htm

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References

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  1. Soete, Luc, 1985. "International diffusion of technology, industrial development and technological leapfrogging," World Development, Elsevier, vol. 13(3), pages 409-422, March.
  2. Philippe Aghion & Peter Howitt, 1990. "A Model of Growth Through Creative Destruction," NBER Working Papers 3223, National Bureau of Economic Research, Inc.
  3. Soete, Luc & Turner, Roy, 1984. "Technology Diffusion and the Rate of Technical Change," Economic Journal, Royal Economic Society, vol. 94(375), pages 612-23, September.
  4. Jan Fagerberg & Manuel Godinho, 2003. "Innovation and catching-up," Working Papers 24, Centre for Technology, Innovation and Culture, University of Oslo.
  5. Iwai, Katsuhito, 1984. "Schumpeterian dynamics : An evolutionary model of innovation and imitation," Journal of Economic Behavior & Organization, Elsevier, vol. 5(2), pages 159-190, June.
  6. Paul Romer, 1991. "Endogenous Technological Change," NBER Working Papers 3210, National Bureau of Economic Research, Inc.
  7. Nelson, Richard R. & Winter, Sidney G., 1993. "In search of useful theory of innovation," Research Policy, Elsevier, vol. 22(2), pages 108-108, April.
  8. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-37, October.
  9. Fagerberg, Jan, 1994. "Technology and International Differences in Growth Rates," Journal of Economic Literature, American Economic Association, vol. 32(3), pages 1147-75, September.
  10. Fulvio Castellacci, 2002. "Technology Gap and Cumulative Growth: Models and outcomes," International Review of Applied Economics, Taylor & Francis Journals, vol. 16(3), pages 333-346.
  11. Fine, Ben, 2000. "Endogenous Growth Theory: A Critical Assessment," Cambridge Journal of Economics, Oxford University Press, vol. 24(2), pages 245-65, March.
  12. Perez, Carlota, 1985. "Microelectronics, long waves and world structural change: New perspectives for developing countries," World Development, Elsevier, vol. 13(3), pages 441-463, March.
  13. Freeman, Chris & Louca, Francisco, 2001. "As Time Goes By: From the Industrial Revolutions to the Information Revolution," OUP Catalogue, Oxford University Press, number 9780199241071.
  14. Castellacci, Fulvio & Grodal, Stine & Mendonca, Sandro & Wibe, Mona, 2005. "Advances and challenges in innovation studies," MPRA Paper 27519, University Library of Munich, Germany.
  15. Birgitte Andersen, 1999. "The hunt for S-shaped growth paths in technological innovation: a patent study," Journal of Evolutionary Economics, Springer, vol. 9(4), pages 487-526.
  16. Abramovitz, Moses, 1986. "Catching Up, Forging Ahead, and Falling Behind," The Journal of Economic History, Cambridge University Press, vol. 46(02), pages 385-406, June.
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Citations

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Cited by:
  1. Fulvio Castellacci & José Miguel Natera, 2011. "A new panel dataset for cross-country analyses of national systems, growth and development (CANA)," Working Papers del Instituto Complutense de Estudios Internacionales 05-11, Universidad Complutense de Madrid, Instituto Complutense de Estudios Internacionales.
  2. Castellacci, Fulvio, 2006. "Innovation, diffusion and catching up in the fifth long wave," MPRA Paper 27521, University Library of Munich, Germany.
  3. Giorgia Barboni & Tania Treibich, 2010. "On the Latin American Growth Paradox: A Hindsight into the Golden Age," Documents de Travail de l'OFCE 2010-35, Observatoire Francais des Conjonctures Economiques (OFCE).
  4. Karol Sledzik, 2013. "Knowledge Based Economy in a Neo–Schumpeterian Point of View," Equilibrium, Uniwersytet Mikolaja Kopernika, vol. 8, pages 67-77.
  5. Castellacci, Fulvio, 2008. "Innovation and the competitiveness of industries: comparing the mainstream and the evolutionary approaches," MPRA Paper 27523, University Library of Munich, Germany.

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