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National Productive Structure and Innovative Dynamics: Finding the (Endogenous) Path to Convergence

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  • Jorge Cerdeira

    (Faculdade de Economia - Universidade do Porto)

  • Luís Pina Rebelo

    ()
    (Faculdade de Economia e Gestão - Universidade Católica Portuguesa - Porto, and Faculdade de Economia - Universidade do Porto)

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    Abstract

    We extend the model presented in Barro and Sala-i-Martin (1997) by allowing for two types of economies - more developed and in transition to European Union integration - to both imitate and innovate varieties of intermediate goods. Besides depending on research and development expenditures, we also allow for the stochastic nature of innovation by making it also dependent on a random component. We do this by Monte Carlo simulation, using a Box-Muller process, and solve a three differential equation model by using numerical methods. Two situations are presented: a leading economy with greater institutions and more labour than the transition economy versus a situation where an institutional advance is given to the transition economy.

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    File URL: http://www.porto.ucp.pt/feg/repec/WP/012008%20-%20Cerdeira%20e%20Rebelo%20-%20National%20Productive%20Structure%20and%20Innovative%20dynamics.pdf
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    Bibliographic Info

    Paper provided by Faculdade de Economia e Gestão, Universidade Católica Portuguesa (Porto) in its series Working Papers de Economia (Economics Working Papers) with number 012008.

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    Length: 28 pages
    Date of creation: Feb 2008
    Date of revision:
    Handle: RePEc:cap:wpaper:012008

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    Related research

    Keywords: stochastic innovation; transition economies; growth; technology; diffusion; convergence;

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