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A model of technology adoption and growth

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  • Stephen L. Parente

    (Department of Economics, Northeastern University, Boston, MA 02115, USA)

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 investment 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 ()
Pages: 405-420

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Handle: RePEc:spr:joecth:v:6:y:1995:i:3:p:405-420

Note: Received: January 10, 1993; revised version May 16, 1994
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Cited by:
  1. Stephen L. Parente & Edward C. Prescott, 1991. "Technology adoption and growth," Staff Report 136, Federal Reserve Bank of Minneapolis.
  2. Roc Armenter & Amartya Lahiri, 2006. "Endogenous productivity and development accounting," Staff Reports 258, Federal Reserve Bank of New York.
  3. 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.
  4. 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.
  5. Funk, Peter, 2008. "Entry and growth in a perfectly competitive vintage model," Journal of Economic Theory, Elsevier, vol. 138(1), pages 211-236, January.
  6. Aubhik Khan & B. Ravikumar, 2002. "Costly Technology Adoption and Capital Accumulation," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 5(2), pages 489-502, April.
  7. Been-Lon Chen & Jie-Ping Mo & Ping Wang, 2000. "Market Frictions, Technology Adoption and Economic Growth," Vanderbilt University Department of Economics Working Papers 0034, Vanderbilt University Department of Economics.
  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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