Workers, Machines, And Economic Growth
AbstractThis paper analyzes a model of economic growth, with technological innovations that reduce labor requirements but raise capital requirements. The paper has two main results. The first is that such technological innovations are not everywhere adopted, but only in countries with high productivity. The second result is that technology adoption significantly amplifies differences in productivity between countries. This paper can, therefore, add to our understanding of large and persistent international differences in output per capita. The model also helps to explain other growth phenomena, like divergence or periods of rapid growth. © 2000 the President and Fellows of Harvard College and the Massachusetts Institute of Technology
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Bibliographic InfoArticle provided by MIT Press in its journal The Quarterly Journal of Economics.
Volume (Year): 113 (1998)
Issue (Month): 4 (November)
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Web page: http://mitpress.mit.edu/journals/
Other versions of this item:
- O14 - Economic Development, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
- O33 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
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