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A dynamical countries-interaction model based on technology for the study of European growth and stability

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  • Bernardo Maggi

    ()
    (Sapienza Universita' di Roma)

  • Daniel Muro

    ()
    (Universita' di Roma III)

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    Abstract

    With this study we intend to define a methodology capable to deal with the task of evaluating and planning the interdependent dynamics of growth for some European countries together with their foreign partners. To that aim we employ a nonlinear differential equations system representing a disequilibrium model based on a Schumpeterian evolutionary context with endogenous technology. We use such a model in order to disentangle the interrelationships occurring among countries for the critical variables considered. That is, we succeed in evaluating the contribution to growth of a country with respect to another one in terms of the variables involved. We address and corroborate the validity of our conjectures on the importance of the business services in the innovation and production processes by presenting also a minimal model. Further, we provide an evaluation of the convolution integral of our differential system to determine the necessary initial conditions of the critical variables for policy purposes. We then perform a sensitivity analysis to assess per each country the effectiveness of some possible efforts in order to gain stability.

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    File URL: http://www.dss.uniroma1.it/RePec/sas/wpaper/20141_mm.pdf
    File Function: First version, 2014
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    Bibliographic Info

    Paper provided by Centre for Empirical Economics and Econometrics, Department of Statistics, "Sapienza" University of Rome in its series DSS Empirical Economics and Econometrics Working Papers Series with number 2014/1.

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    Length: 25 pages
    Date of creation: Jan 2014
    Date of revision:
    Handle: RePEc:sas:wpaper:20141

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    Related research

    Keywords: Continuous Time Panel Econometrics; Distance; Programming; Growth; Stability; Sensitivity; Technology; Business Services.;

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    References

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    1. Krugman, Paul, 1991. "Increasing Returns and Economic Geography," Journal of Political Economy, University of Chicago Press, vol. 99(3), pages 483-99, June.
    2. Holden, Tom, 2011. "Products, patents and productivity persistence: A DSGE model of endogenous growth," Dynare Working Papers 4, CEPREMAP.
    3. Walz, Uwe, 1996. "Transport costs, intermediate goods, and localized growth," Regional Science and Urban Economics, Elsevier, vol. 26(6), pages 671-695, December.
    4. Oecd, 2005. "Potential Offshoring of ICT-intensive Using Occupations," OECD Digital Economy Papers 91, OECD Publishing.
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