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Public policies and convergence

  • Ott, Ingrid
  • Soretz, Susanne

This paper employs a dynamic framework to compare the effects of alternative government policies on convergence of industrialized economies to the technology frontier. The government's instruments include facilitating private investment and education policy. The latter enhances skills of heterogenous specialists and implies the decision on their respective shares. The analysis distinguishes between an isolated policy of a single economy and coordinated policies of various countries. Which policy maximizes the speed of convergence is crucially affected by the economy's state of development. A policy switch between the mentioned instruments while catching-up may be preferable.

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Article provided by Elsevier in its journal Journal of Economic Dynamics and Control.

Volume (Year): 35 (2011)
Issue (Month): 9 (September)
Pages: 1435-1450

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Handle: RePEc:eee:dyncon:v:35:y:2011:i:9:p:1435-1450
Contact details of provider: Web page: http://www.elsevier.com/locate/jedc

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