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The Global Diffusion of Ideas and Its Impact on Productivity and Growth

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Abstract

Economic growth often comes hand in hand with the growth of trade. However, according to quantitative models that rely on standard static mechanisms, the gains from trade are fairly small. This article introduces a model to study the diffusion of ideas across countries as a means of increasing productivity and provides a quantitative assessment of the role of trade in the transmission of knowledge.

Suggested Citation

  • Francisco J. Buera & Ezra Oberfield, 2016. "The Global Diffusion of Ideas and Its Impact on Productivity and Growth," Chicago Fed Letter, Federal Reserve Bank of Chicago.
    • Handle: RePEc:fip:fedhle:00057
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