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Neoclassical convergence versus technological catch-up: A contribution for reaching a consensus

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  • Desdoigts, Alain

Abstract

New macro empirical evidence is provided to assess the relative importance of object and idea gaps in explaining the world income distribution dynamics. Formal statistical hypothesis tests allow us to discriminate between two competing growthmodels: (i) the standard neoclassical growth model similar to that employed by Mankiw, Romer, and Weil (1992), (ii) an extension of the Nelson and Phelps' approach (1966) that emphasizes the importance of technology transfer in addition to factors accumulation. First, the latter model better characterizes international data at an aggregate level. It cannot be rejected as a null hypothesis and is significantly preferred to a standard neoclassical model. Second, robust to sample selection evidence suggests that the high social returns to investment in equipment (as opposed to structure) reflect technology transfer mediated through capital goods. Finally, technological catch-up mostly benefits socially advanced economies and largely contributes to the polarization of the world income distribution. --

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Bibliographic Info

Paper provided by Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes in its series SFB 373 Discussion Papers with number 2000,42.

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Date of creation: 2000
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Handle: RePEc:zbw:sfb373:200042

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Keywords: economic growth; neoclassical convergence; technological catch-up; income dynamics;

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References

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  1. Fisher, Gordon R. & McAleer, Michael, 1981. "Alternative procedures and associated tests of significance for non-nested hypotheses," Journal of Econometrics, Elsevier, Elsevier, vol. 16(1), pages 103-119, May.
  2. Nehru, Vikram & Swanson, Eric & Dubey, Ashutosh, 1995. "A new database on human capital stock in developing and industrial countries: Sources, methodology, and results," Journal of Development Economics, Elsevier, Elsevier, vol. 46(2), pages 379-401, April.
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Cited by:
  1. Vatcharin Sirimaneetham & Jonathan Temple, 2006. "Macroeconomic policy and the distribution of growth rates," Bristol Economics Discussion Papers 06/584, Department of Economics, University of Bristol, UK.
  2. Cem Ertur & Wilfried Koch, 2006. "The Role of Human Capital and Technological Interdependence in Growth and Convergence Processes: International Evidence," DEGIT Conference Papers, DEGIT, Dynamics, Economic Growth, and International Trade c011_029, DEGIT, Dynamics, Economic Growth, and International Trade.
  3. Philippe Aghion, 2004. "Growth and Development: A Schumpeterian Approach," Annals of Economics and Finance, Society for AEF, vol. 5(1), pages 1-25, May.
  4. Ewa Lechman, 2013. "Technology convergence and digital divides. A country-level evidence for the period 2000-2010," GUT FME Working Paper Series A, Faculty of Management and Economics, Gdansk University of Technology 3, Faculty of Management and Economics, Gdansk University of Technology.
  5. Wilfried Koch, 2005. "Neighborhood Effects In The Solow Model With Spatial Externalities," ERSA conference papers ersa05p723, European Regional Science Association.
  6. Aghion, Philippe & Meghir, Costas & Vandenbussche, Jérôme, 2005. "Growth, Distance to Frontier and Composition of Human Capital," CEPR Discussion Papers, C.E.P.R. Discussion Papers 4860, C.E.P.R. Discussion Papers.
  7. ERTUR, Cem & KOCH, Wilfried, 2006. "Convergence, Human Capital and International Spillovers," LEG - Document de travail - Economie, LEG, Laboratoire d'Economie et de Gestion, CNRS, Université de Bourgogne 2006-03, LEG, Laboratoire d'Economie et de Gestion, CNRS, Université de Bourgogne.
  8. Jérôme Vandenbussche & Philippe Aghion & Costas Meghir, 2006. "Growth, distance to frontier and composition of human capital," Journal of Economic Growth, Springer, Springer, vol. 11(2), pages 97-127, June.
  9. Ewa, Lechman, 2012. "Cross national technology convergence. An empirical study for the period 2000-2010," MPRA Paper 37442, University Library of Munich, Germany.

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