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Managerial Skills Acquisition and the Theory of Economic Development

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  • Paul Beaudry
  • Patrick Francois

Abstract

Why don't all countries converge rapidly to the use of most efficient or best practice technologies? Micro level studies suggest managerial skills play a key role in the adoption of modern technologies. In this paper we model the interactive process between on-the-job managerial skill acquisition and the adoption of modern technology. We use the model to illustrate why some countries develop managerial skills quickly and adopt best practice technologies, while others stay backwards. The model also explains why managers will not migrate from rich countries to poor countries, as would be needed to generate convergence. Finally we show why standard growth accounting exercises will incorrectly attribute a large proportion of managerial skills' contribution to total factor productivity and we quantify the importance of this bias. Copyright , Wiley-Blackwell.

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File URL: http://hdl.handle.net/10.1111/j.1467-937X.2009.00571.x
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Bibliographic Info

Article provided by Oxford University Press in its journal The Review of Economic Studies.

Volume (Year): 77 (2010)
Issue (Month): 1 ()
Pages: 90-126

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Handle: RePEc:oup:restud:v:77:y:2010:i:1:p:90-126

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Cited by:
  1. Kunal Dasgupta, 2010. "Learning and Knowledge Diffusion in a Global Economy," Working Papers tecipa-410, University of Toronto, Department of Economics.
  2. Thomas Sampson, 2012. "Brain Drain or Brain Gain? Technology Diffusion and Learning On-the-job," CEP Discussion Papers dp1168, Centre for Economic Performance, LSE.
  3. Thomas Sampson, 2012. "Brain drain or brain gain? Technology diffusion and learning on-the-job," LSE Research Online Documents on Economics 51503, London School of Economics and Political Science, LSE Library.
  4. Paul Beaudry & Patrick Francois, 2007. "The Economics of Inefficient Technology Use," NBER Working Papers 13500, National Bureau of Economic Research, Inc.
  5. Sampson, Thomas, 2013. "Brain drain or brain gain? Technology diffusion and learning on-the-job," Journal of International Economics, Elsevier, vol. 90(1), pages 162-176.

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