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Human capital, mechanisms of technological diffusion and the role of technological shocks in the speed of diffusion. Evidence from a panel of Mediterranean countries

Listed author(s):
  • Maria Adelaide Duarte

    ()

    (Faculty of Economics, University of Coimbra)

  • Marta Simões

    ()

    (Faculty of Economics, University of Coimbra)

The purpose of this paper is to assess the importance of human capital as a facilitator of technological diffusion in a sample of developing Mediterranean countries based on the predictions of endogenous growth theory. The evidence does not support the Benhabib and Spiegel (2002) non-linear specification that accommodates both the hypothesis of technological convergence and convergence clubs but the linear specification originally proposed by Benhabib and Spiegel (1994), confirming a role for human capital in both innovation and imitation activities. We also tested the complementarity between FDI, a form of embodied technology diffusion, and human capital but this hypothesis was not confirmed and investigated the importance of human capital for the diffusion of ICT confirming it is fundamental to benefit from these technologies. Finally, we analysed the importance of technological shocks for technological diffusion using a VAR model finding evidence of factor complementarity between TFP, physical capital investment and human capital in the absorption of any of the shocks considered.

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Article provided by Faculty of Economics, University of Coimbra in its journal Notas Económicas.

Volume (Year): (2004)
Issue (Month): 20 (December)
Pages: 102-134

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Handle: RePEc:gmf:journl:y:2004:i:20:p:102-134
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  1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
  2. Arellano, Manuel & Bover, Olympia, 1995. "Another look at the instrumental variable estimation of error-components models," Journal of Econometrics, Elsevier, vol. 68(1), pages 29-51, July.
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  10. Benhabib, Jess & Spiegel, Mark M., 1994. "The role of human capital in economic development evidence from aggregate cross-country data," Journal of Monetary Economics, Elsevier, vol. 34(2), pages 143-173, October.
  11. Peter Klenow & Andrés Rodríguez-Clare, 1997. "The Neoclassical Revival in Growth Economics: Has It Gone Too Far?," NBER Chapters, in: NBER Macroeconomics Annual 1997, Volume 12, pages 73-114 National Bureau of Economic Research, Inc.
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