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Embodied technological change, capital sectoral allocation and export-led growth

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  • Araujo, Ricardo Azevedo
  • Lima, Gilberto Tadeu

Abstract

This paper contributes to the literature on economic growth by seeking to join several lines of research on structural factors in a more fully specified framework, on the one hand, and by making this more inclusive supply side to interact with demand factors in a model of export-led growth, on the other hand. Balance-of-payments constraints influence the adoption of investment-specific technological change which requires the import of capital goods, while the sectoral allocation of physical and human capital is likewise revealed to be crucial for economic growth, both results having important policy implications.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 29810.

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Date of creation: Mar 2011
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Handle: RePEc:pra:mprapa:29810

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Keywords: embodied technological change; sectoral allocation of investment; human capital accumulation; export-led growth;

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  1. Gregory W. Huffman, 2003. "Endogenous Growth Through Investment-Specific Technological Change," Levine's Bibliography 666156000000000268, UCLA Department of Economics.
  2. Bakhshi, Hasan & Larsen, Jens, 2005. "ICT-specific technological progress in the United Kingdom," Journal of Macroeconomics, Elsevier, Elsevier, vol. 27(4), pages 648-669, December.
  3. Araujo, Ricardo Azevedo & Teixeira, Joanílio Rodolpho, 2002. "Structural Change and Decisions on Investment Allocation," MPRA Paper 53293, University Library of Munich, Germany.
  4. Hendricks, Lutz, 2000. "Equipment investment and growth in developing countries," Journal of Development Economics, Elsevier, Elsevier, vol. 61(2), pages 335-364, April.
  5. Greenwood, J. & Hercowitz, Z. & Krusell, P., 1995. "Long-Run Implications of Investment-Specific Technological Change," UWO Department of Economics Working Papers, University of Western Ontario, Department of Economics 9510, University of Western Ontario, Department of Economics.
  6. 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, Elsevier, vol. 34(2), pages 143-173, October.
  7. Dale W. Jorgenson & Kevin J. Stiroh, 2000. "Raising the Speed Limit: US Economic Growth in the Information Age," OECD Economics Department Working Papers 261, OECD Publishing.
  8. Sakellaris, Plutarchos & Wilson, Daniel J., 2002. "Quantifying embodied technological change," Working Paper Series, European Central Bank 0158, European Central Bank.
  9. A. P. Thirlwall, 1997. "Reflections on the Concept of Balance-of-Payments-Constrained Growth," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., M.E. Sharpe, Inc., vol. 19(3), pages 377-385, April.
  10. Araujo, Ricardo Azevedo, 2004. "Optimal human investment allocation," Economics Letters, Elsevier, Elsevier, vol. 85(1), pages 71-76, October.
  11. Mankiw, N Gregory & Romer, David & Weil, David N, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 107(2), pages 407-37, May.
  12. Jörg MAYER, 2001. "Technology Diffusion, Human Capital And Economic Growth In Developing Countries," UNCTAD Discussion Papers, United Nations Conference on Trade and Development 154, United Nations Conference on Trade and Development.
  13. Marquis, Milton H. & Trehan, Bharat, 2008. "On using relative prices to measure capital-specific technological progress," Journal of Macroeconomics, Elsevier, Elsevier, vol. 30(4), pages 1390-1406, December.
  14. Dale W. Jorgenson, 1966. "The Embodiment Hypothesis," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 74, pages 1.
  15. Jorgenson, Dale W., 1966. "The Embodiment Hypothesis," Scholarly Articles 3403063, Harvard University Department of Economics.
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