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Catching-up with the “locomotive”: a simple theory

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  • Raouf Boucekkine
  • Benteng Zou

    ()
    (CREA, University of Luxembourg)

Abstract

This paper extends the standard neoclassical model by considering a technology sector through which an economy with limited human capital attempts to catch up with a given “locomotive” pushing exogenously technical progress. In periods of technological stagnation, economies close enough to the frontier may find it optimal to not catch up, which reinforces worldwide technological sclerosis. Under sustainable technological growth, all the other economies will sooner or later engage in imitation. Such a phase of technology adoption may be delayed depending on certain deep characteristics of the followers.

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File URL: http://wwwfr.uni.lu/content/download/28779/339974/file/2010_02-Catching-up%20with%20the%20locomotive-%20a%20simple%20theory.pdf
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Bibliographic Info

Paper provided by Center for Research in Economic Analysis, University of Luxembourg in its series CREA Discussion Paper Series with number 10-02.

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Date of creation: 2010
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Handle: RePEc:luc:wpaper:10-02

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  1. BOUCEKKINE, Raouf & MARTINEZ, Blanca & SAGLAM, Cagri, . "The Development problem under embodiment," CORE Discussion Papers RP -1852, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. Raouf, BOUCEKKINE & Cagri, SAGLAM & Thomas, VALLEE, 2002. "Technology adoption under embodiment : A two-stage optimal control approach," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2003007, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
  3. Benhabib, Jess & Spiegel, Mark M., 1994. "The role of human capital in economic development evidence from aggregate cross-country data," Journal of Monetary Economics, Elsevier, vol. 34(2), pages 143-173, October.
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Cited by:
  1. Luboš Komárek & Martin Motl & Filip Novotný & Ladislav Prokop, 2012. "German Economic "Locomotive" and the Czech Economy," Politická ekonomie, University of Economics, Prague, vol. 2012(4), pages 442-458.

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