Nonlinear Growth and the Productivity Slowdown
AbstractIn 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
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Society for Computational Economics in its series Computing in Economics and Finance 2004 with number 162.
Date of creation: 11 Aug 2004
Date of revision:
nonlinear growth; distribution dynamics; convergence; structural change; technological diffusion;
Other versions of this item:
- 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 and Methodology: General - - - Semiparametric and Nonparametric Methods: General
This paper has been announced in the following NEP Reports:
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Robert E. Lucas, 2000. "Some Macroeconomics for the 21st Century," Journal of Economic Perspectives, American Economic Association, vol. 14(1), pages 159-168, Winter.
- Michael Kremer & Alexei Onatski & James Stock, 2001.
"Searching for Prosperity,"
NBER Working Papers
8250, National Bureau of Economic Research, Inc.
- Kremer, Michael & Onatski, Alexei & Stock, James, 2001. "Searching for prosperity," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 55(1), pages 275-303, December.
- Johnson, Paul A., 2005.
"A continuous state space approach to "Convergence by Parts","
Elsevier, vol. 86(3), pages 317-321, March.
- Johnson, Paul, 2003. "A Continuous State Space Approach to “Convergence by Parts”," Vassar College Department of Economics Working Paper Series 54, Vassar College Department of Economics.
- Quah, Danny, 1997. "Empirics for Growth and Distribution: Stratification, Polarization, and Convergence Clubs," CEPR Discussion Papers 1586, C.E.P.R. Discussion Papers.
- Susanto Basu & David N. Weil, 1996.
"Appropriate Technology and Growth,"
NBER Working Papers
5865, National Bureau of Economic Research, Inc.
- Bernard, Andrew B & Jones, Charles I, 1996. "Technology and Convergence," Economic Journal, Royal Economic Society, vol. 106(437), pages 1037-44, July.
- Durlauf,S.N. & Johnson,P.A. & Temple,J.R.W., 2004.
18, Wisconsin Madison - Social Systems.
- Johnson, Paul & Durlauf, Steven N & Temple, Johnathan R. W., 2004. "Growth Econometrics," Vassar College Department of Economics Working Paper Series 61, Vassar College Department of Economics.
- Jorgenson, Dale W, 1988. "Productivity and Postwar U.S. Economic Growth," Journal of Economic Perspectives, American Economic Association, vol. 2(4), pages 23-41, Fall.
- Fischer, Stanley, 1988. "Symposium on the Slowdown in Productivity Growth," Journal of Economic Perspectives, American Economic Association, vol. 2(4), pages 3-7, Fall.
- Goodfriend, Marvin & McDermott, John, 1998.
"Industrial Development and the Convergence Question,"
American Economic Review,
American Economic Association, vol. 88(5), pages 1277-89, December.
- Marvin Goodfriend & John McDermott, 1999. "Industrial development and the convergence question," Working Paper 99-01, Federal Reserve Bank of Richmond.
- Atkinson, Anthony B & Stiglitz, Joseph E, 1969. "A New View of Technological Change," Economic Journal, Royal Economic Society, vol. 79(315), pages 573-78, September.
- Kevin M. Murphy & Andrei Shleifer & Robert W. Vishny, 1988.
"Industrialization and the Big Push,"
NBER Working Papers
2708, National Bureau of Economic Research, Inc.
- 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.
- Charles I. Jones, 1997.
"On the Evolution of the World Income Distribution,"
Journal of Economic Perspectives,
American Economic Association, vol. 11(3), pages 19-36, Summer.
- Fiaschi, Davide & Lavezzi, Andrea Mario, 2007.
"Nonlinear economic growth: Some theory and cross-country evidence,"
Journal of Development Economics,
Elsevier, vol. 84(1), pages 271-290, September.
- Davide Fiaschi & Andrea Mario Lavezzi, 2003. "Nonlinear Economic Growth: Some Theory and Cross-Country Evidence," Discussion Papers 2003/14, Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy.
- Fiaschi, Davide & Lavezzi, Andrea Mario, 2003. " Distribution Dynamics and Nonlinear Growth," Journal of Economic Growth, Springer, vol. 8(4), pages 379-401, December.
- Galor, Oded, 1996.
"Convergence? Inferences from Theoretical Models,"
Royal Economic Society, vol. 106(437), pages 1056-69, July.
- Peretto, Pietro F., 1999.
"Industrial development, technological change, and long-run growth,"
Journal of Development Economics,
Elsevier, vol. 59(2), pages 389-417, August.
- Peretto, Pietro F., 1997. "Industrial Development, Technological Change, and Long-RunGrowth," Working Papers 97-10, Duke University, Department of Economics.
- James Feyrer, 2007. "Demographics and Productivity," The Review of Economics and Statistics, MIT Press, vol. 89(1), pages 100-109, February.
- 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.
- Andreas Hornstein & Dan Peled, 1998. "External vs. internal learning-by-doing in an R&D based growth model," Working Paper 98-01, Federal Reserve Bank of Richmond.
- Simon N. Wood, 2004. "Stable and Efficient Multiple Smoothing Parameter Estimation for Generalized Additive Models," Journal of the American Statistical Association, American Statistical Association, vol. 99, pages 673-686, January.
- Luca Pieroni, 2007. "Military Spending and Economic Growth," Working Papers 0708, Department of Accounting, Economics and Finance, Bristol Business School, University of the West of England, Bristol.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christopher F. Baum).
If references are entirely missing, you can add them using this form.