Accumulation, innovation and catching-up: an extended cumulative growth model
AbstractThis 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 InfoArticle provided by Oxford University Press in its journal Cambridge Journal of Economics.
Volume (Year): 26 (2002)
Issue (Month): 2 (March)
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Postal: Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK
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Other versions of this item:
- Miguel A. León-Ledesma, 1999. "Accumulation, Innovation and Catching-Up: An Extended Cumulative Growth Model," Studies in Economics 9906, Department of Economics, University of Kent.
- O3 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights
- O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
- F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
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