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Growth and Productivity: A Model of Cumulative Growth and Catching Up

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  • Targetti, Ferdinando
  • Foti, Alessandro
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    Abstract

    Individually, neither the cumulative growth approach of the post-Keynesian tradition nor the catching-up theory of neoclassical derivation are able to account for the chief stylized facts of comparative economic growth. A pooled, cross-section, econometric model that integrates these two approaches is developed and tested by the authors over the period 1950-88 for a group of nine OECD countries, for a group of nine Latin American countries and for a group of seven East Asian countries. Purchasing power parities for 1985 are employed to measure productivity levels. The growth record of the OECD countries is satisfactorily assessed by the model. The catching-up effect is found to be relevant in explaining productivity growth in the OECD area and in East Asia, but not in Latin America. This differential outcome finds explanation in terms of the relative strength of dynamic increasing returns. Copyright 1997 by Oxford University Press.

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    Bibliographic Info

    Article provided by Oxford University Press in its journal Cambridge Journal of Economics.

    Volume (Year): 21 (1997)
    Issue (Month): 1 (January)
    Pages: 27-43

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    Handle: RePEc:oup:cambje:v:21:y:1997:i:1:p:27-43

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    Cited by:
    1. 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.
    2. Ulrich Blum, 2003. "Borders Matter! - Regional Integration in Europe and North America," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), Justus-Liebig University Giessen, Department of Statistics and Economics, vol. 223(5), pages 513-531, September.
    3. Miguel A. LeÛn-Ledesma, 2002. "Accumulation, innovation and catching-up: an extended cumulative growth model," Cambridge Journal of Economics, Oxford University Press, vol. 26(2), pages 201-216, March.
    4. Álvaro Martín Moreno Rivas, 2008. "Las leyes del desarrollo económico endógeno de Kaldor: el caso colombiano," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 10(18), pages 129-147, January-J.
    5. Miguel A. León-Ledesma & A. P. Thirlwall, 1998. "The Endogeneity of the Natural Rate of Growth," Studies in Economics 9821, Department of Economics, University of Kent.
    6. Piva, Mariacristina, 2004. "The impact of technology transfer on employment and income distribution in developing countries : a survey of theoretical models and empirical studies," ILO Working Papers 366690, International Labour Organization.
    7. Carton, Christine, 2009. "Mecanismos kaldorianos del crecimiento regional: Aplicación empírica al caso del ALADI (1980-2007)
      [Kaldorian mechanisms of regional growth: An empirical application to the case of ALADI 1980-200
      ," MPRA Paper 15675, University Library of Munich, Germany.
    8. Miguel A. León-Ledesma, 2000. "Cumulative Growth and the Catching-up Debate from a Dis-equilibrium Standpoint," Studies in Economics 0001, Department of Economics, University of Kent.
    9. Bos, Jaap W.B. & Kolari, James W. & van Lamoen, Ryan C.R., 2013. "Competition and innovation: Evidence from financial services," Journal of Banking & Finance, Elsevier, vol. 37(5), pages 1590-1601.
    10. Botta, Alberto, 2009. "A structuralist North-South model on structural change, economic growth and catching-up," Structural Change and Economic Dynamics, Elsevier, vol. 20(1), pages 61-73, March.

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