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A Model of Technology Adoption and Growth

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  • Parente, Stephen L

Abstract

We construct a model of economic growth in which firms adopt more advanced technologies. In order to advance its technology, a firm must make an investment. The size of this depends on the size of the technology adoption barriers in the firm's country. Assuming a Markov chain for these barriers, we examine the amount of variation and persistence in the chain for which the model matches the observed output disparity across countries and the mobility of nations. Our calibration suggests a range for the size of these barriers of a factor five, and the presence of a barrier trap.

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Bibliographic Info

Article provided by Springer in its journal Economic Theory.

Volume (Year): 6 (1995)
Issue (Month): 3 (November)
Pages: 405-20

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Handle: RePEc:spr:joecth:v:6:y:1995:i:3:p:405-20

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Cited by:
  1. Emilio Barucci & Fausto Gozzi, 2001. "Technology adoption and accumulation in a vintage-capital model," Journal of Economics, Springer, vol. 74(1), pages 1-38, February.
  2. Canton, E.J.F. & Groot, H.L.F. de & Nahuis, R., 1999. "Vested Interests and Resistance to Technology Adoption," Discussion Paper 1999-106, Tilburg University, Center for Economic Research.
  3. Funk, Peter, 2008. "Entry and growth in a perfectly competitive vintage model," Journal of Economic Theory, Elsevier, vol. 138(1), pages 211-236, January.
  4. Stephen L. Parente & Edward C. Prescott, 1991. "Technology Adoption and Growth," NBER Working Papers 3733, National Bureau of Economic Research, Inc.
  5. Roc Armenter & Amartya Lahiri, 2006. "Endogenous productivity and development accounting," Staff Reports 258, Federal Reserve Bank of New York.
  6. Khan, A. & Ravikumar, B., 1997. "Costly Technology Adoption and Capital Accumulation," Working Papers 97-12, University of Iowa, Department of Economics.
  7. Chen, Been-Lon & Mo, Jie-Ping & Wang, Ping, 2002. "Market frictions, technology adoption and economic growth," Journal of Economic Dynamics and Control, Elsevier, vol. 26(11), pages 1927-1954, September.
  8. Canton, Erik J. F. & de Groot, Henri L. F. & Nahuis, Richard, 2002. "Vested interests, population ageing and technology adoption," European Journal of Political Economy, Elsevier, vol. 18(4), pages 631-652, November.

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