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Catch-up, Growth and Convergence in the OECD

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  • de la Fuente, A.

Abstract

This paper analyses the sources of post-war growth and convergence in the OECD using an extension of Mankiw, Romer and Weil's (1992) model in which the rate of technical progress is determined endogenously by the level of R&D spending and a process of technological catch-up. The results indicate that the impact of R&D investment on growth has been significant. Technological catch-up is found to be very fast and seems to have played an important role in OECD convergence during the first half of the sample period. The exhaustion of this effect, moreover, may help explain the slowdown of growth and convergence after the mid-1970s, and suggests that further convergence will require an important investment effort on the part of poorer countries. Finally, there is evidence that the neoclassical convergence effect is also operative but its contribution to convergence in output per worker has been minor.

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Bibliographic Info

Paper provided by Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC) in its series UFAE and IAE Working Papers with number 314.95.

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Length: 44 pages
Date of creation: 1995
Date of revision:
Handle: RePEc:aub:autbar:314.95

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Keywords: ECONOMIC GROWTH;

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Cited by:
  1. Tiago Neves Sequeira, 2003. "The Iberian Tigers versus The Celtic Tiger: Economic Growth Paths in an Economic History Perspective," Economic History 0309002, EconWPA.
  2. Dr. (elect.) Julia Korosteleva & Dr. Colin Lawson, . "The Belarusian Case of Transition: Whither Financial Repression?," Working Papers 2006_4, Business School - Economics, University of Glasgow.
  3. Rosa Capolupo, . "The New Growth Theoris and their Empirics," Working Papers 2005_4, Business School - Economics, University of Glasgow.
  4. Artelaris, Panagiotis & Arvanitidis, Paschalis & Petrakos, George, 2008. "Convergence Patterns in the World Economy: Exploring the Non-Linearity Hypothesis," Papers DYNREG32, Economic and Social Research Institute (ESRI).
  5. Angel de la Fuente & Vicente Salas Fumás, . "On the sources of convergence: A close look at the Spanish regions," Studies on the Spanish Economy 01, FEDEA.
  6. Siotis, Georges, 2003. "Competitive pressure and economic integration: an illustration for Spain, 1983-1996," International Journal of Industrial Organization, Elsevier, vol. 21(10), pages 1435-1459, December.
  7. Tondl, Gabriele & Vuksic, Goran, 2003. "What makes regions in Eastern Europe catching up? The role of foreign investment, human resources and geography," ZEI Working Papers B 12-2003, ZEI - Center for European Integration Studies, University of Bonn.
  8. Philippe Aghion, 2004. "Growth and Development: A Schumpeterian Approach," Annals of Economics and Finance, Society for AEF, vol. 5(1), pages 1-25, May.
  9. Arantza Gorostiaga, 1999. "¿Cómo afecta el capital público y el capital humano al crecimiento?," Investigaciones Economicas, Fundación SEPI, vol. 23(1), pages 95-114, January.
  10. DOBSON, Steve & RAMLOGAN, Carlyn & STROBL, Eric, 2003. "Why do rates of convergence differ ? A meta-regression analysis," CORE Discussion Papers 2003020, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  11. Rosa Capolupo, 2005. "THE NEW GROWTH THEORIES AND THEIR EMPIRICS, Discussion Paper in Economics, University of Glasgow, N. 2005-04 (http://www.gla.ac.uk/Acad/Economics," GE, Growth, Math methods 0506003, EconWPA.
  12. Georges Siotis, 2000. "Market Power, Total Factor Productivity Growth, and Structural Change. An Illustration for Spain, 1983-1996," Banco de Espa�a Working Papers 0001, Banco de Espa�a.

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