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Accumulation, innovation and catching-up: an extended cumulative growth model

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  • Miguel A. LeÛn-Ledesma

Abstract

This paper presents an extended model of cumulative growth in which the effects of innovation and catching-up are considered. Innovation adds another source of cumulative growth to that of traditional models and allows a consideration of the importance of non-price determinants of international competitiveness. Catching-up is the major force leading to convergence in productivity owing to the effect of the diffusion of technology. The model allows one to analyse whether cumulative forces may lead to stable growth and whether this solution generates convergence in productivity levels. The structural model is tested for a set of OECD countries over the period 1965--94. Copyright 2002, Oxford University Press.

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Bibliographic Info

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

Volume (Year): 26 (2002)
Issue (Month): 2 (March)
Pages: 201-216

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Handle: RePEc:oup:cambje:v:26:y:2002:i:2:p:201-216

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  14. Targetti, Ferdinando & Foti, Alessandro, 1997. "Growth and Productivity: A Model of Cumulative Growth and Catching Up," Cambridge Journal of Economics, Oxford University Press, Oxford University Press, vol. 21(1), pages 27-43, January.
  15. Cohen, Wesley M. & Levin, Richard C., 1989. "Empirical studies of innovation and market structure," Handbook of Industrial Organization, Elsevier, in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 2, chapter 18, pages 1059-1107 Elsevier.
  16. Setterfield, Mark, 1997. "'History versus Equilibrium' and the Theory of Economic Growth," Cambridge Journal of Economics, Oxford University Press, Oxford University Press, vol. 21(3), pages 365-78, May.
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Cited by:
  1. 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.
  2. Eckhard Hein & Artur Tarassow, 2010. "Distribution, aggregate demand and productivity growth: theory and empirical results for six OECD countries based on a post-Kaleckian model," Cambridge Journal of Economics, Oxford University Press, Oxford University Press, vol. 34(4), pages 727-754.
  3. Cimoli, Mario & Porcile, Gabriel, 2011. "Technology, structural change and BOP constrained growth: A structuralist toolbox," MPRA Paper 33800, University Library of Munich, Germany.
  4. Serino, L.A., 2009. "Positive natural resource shocks and domestic adjustments in a semi-industrialized economy: Argentina in the 2004-2007 period," ISS Working Papers - General Series, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague 18709, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague.
  5. A.P.Thirlwall, 2013. "Kaldor's 1970 Regional Growth Model Revisited," Studies in Economics, Department of Economics, University of Kent 1311, Department of Economics, University of Kent.
  6. Bilge Erten, 2010. "Industrial Upgrading and Export Diversification: A Comparative Analysis of Economic Policies in Turkey and Malaysia," Working Papers id:2778, eSocialSciences.
  7. Storm, Servaas & Naastepad, C.W.M, 2012. "Wage-led or profit-led supply : wages, productivity and investment," ILO Working Papers 470930, International Labour Organization.
  8. Porcile, Gabriel & de Souza, Alexandre Gomes & Viana, Ricardo, 2011. "External debt sustainability and policy rules in a small globalized economy," Structural Change and Economic Dynamics, Elsevier, vol. 22(3), pages 269-276, September.
  9. Miguel A. León-Ledesma, 2000. "Cumulative Growth and the Catching-up Debate from a Dis-equilibrium Standpoint," Studies in Economics, Department of Economics, University of Kent 0001, Department of Economics, University of Kent.
  10. Karl Aiginger & Michael Landesmann, 2002. "Competitive Economic Performance: The European View," WIFO Working Papers, WIFO 179, WIFO.
  11. Sandy DALL’ERBA & Rachel GUILLAIN & Julie LE GALLO, 2009. "Impact Of Structural Funds On Regional Growth: How To Reconsider A 9 Year-Old Black Box," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 30, pages 77-100.

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