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Nonlinear Economic Growth: Some Theory and Cross-Country Evidence

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  • Davide Fiaschi
  • Andrea Mario Lavezzi

Abstract

The paper aims to test the existence of different regimes in the growth process. We propose a simple nonlinear growth model which features different relationships between growth rate and income level. We iden tify its testable implications in terms of state space dynamics. By estimating Markov transition matrices we show that growth is indeed a nonlinear process. Economic growth proceeds by alternating phases of acceleration and deceleration. We discuss the relevance of these results with respect to the issue of income convergence across countries and models of technological diffusion.

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Bibliographic Info

Paper provided by Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy in its series Discussion Papers with number 2003/14.

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Date of creation: 01 Jan 2003
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Handle: RePEc:pie:dsedps:2003/14

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Keywords: onlinear growth; distribution dynamics; convergence; structural change; technological diffusion;

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