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Nonlinear Growth and the Productivity Slowdown

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Author Info
Andrea Mario Lavezzi
Davide Fiaschi

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Abstract

In this paper we study the productivity slowdown taking as a starting point the nonlinear shape of the growth path. We relate the slowdown to the evolution of the world income distribution and show that i) in the periods before and after the oil shocks growth is nonlinear; ii) the productivity slowdown consists in a downward shift of the nonlinear growth path; iii) in both periods we observe a medium run tendency to polarization, but the long run distribution features convergence in the first period and polarization in the second. We provide theoretical and empirical arguments to suggest that the process of international transfer of technology in the context of nonlinear growth can provide useful insights to understand the productivity slowdown

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Paper provided by Society for Computational Economics in its series Computing in Economics and Finance 2004 with number 162.

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Date of creation: 11 Aug 2004
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Handle: RePEc:sce:scecf4:162

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Related research
Keywords: nonlinear growth; distribution dynamics; convergence; structural change; technological diffusion;

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Find related papers by JEL classification:
O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General - - - Semiparametric and Nonparametric Methods

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References listed on IDEAS
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  2. Galor, Oded, 1996. "Convergence? Inferences from Theoretical Models," Economic Journal, Royal Economic Society, vol. 106(437), pages 1056-69, July. [Downloadable!] (restricted)
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  4. Hamilton, James D. & Monteagudo, Josefina, 1998. "The augmented Solow model and the productivity slowdown," Journal of Monetary Economics, Elsevier, vol. 42(3), pages 495-509, October. [Downloadable!] (restricted)
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  5. Quah, Danny T, 1997. " Empirics for Growth and Distribution: Stratification, Polarization, and Convergence Clubs," Journal of Economic Growth, Springer, vol. 2(1), pages 27-59, March. [Downloadable!] (restricted)
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    Other versions:
    • Durlauf, Steven N. & Johnson, Paul A. & Temple, Jonathan R.W., 2005. "Growth Econometrics," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 8, pages 555-677 Elsevier. [Downloadable!] (restricted)
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  18. Susanto Basu & David N. Weil, 1998. "Appropriate Technology And Growth," The Quarterly Journal of Economics, MIT Press, vol. 113(4), pages 1025-1054, November. [Downloadable!] (restricted)
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  19. Goodfriend, Marvin & McDermott, John, 1998. "Industrial Development and the Convergence Question," American Economic Review, American Economic Association, vol. 88(5), pages 1277-89, December. [Downloadable!] (restricted)
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Cited by:
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  1. Luca Pieroni, 2007. "Military Spending and Economic Growth," Discussion Papers 0708, University of the West of England, Department of Economics. [Downloadable!]
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