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Accumulation, innovation and catching-up: an extended cumulative growth model

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  • Miguel A. LeÛn-Ledesma

Abstract

This paper presents an extended model of cumulative growth in which the effects of innovation and catching-up are considered. Innovation adds another source of cumulative growth to that of traditional models and allows a consideration of the importance of non-price determinants of international competitiveness. Catching-up is the major force leading to convergence in productivity owing to the effect of the diffusion of technology. The model allows one to analyse whether cumulative forces may lead to stable growth and whether this solution generates convergence in productivity levels. The structural model is tested for a set of OECD countries over the period 1965--94. Copyright 2002, Oxford University Press.

Suggested Citation

  • Miguel A. LeÛn-Ledesma, 2002. "Accumulation, innovation and catching-up: an extended cumulative growth model," Cambridge Journal of Economics, Oxford University Press, vol. 26(2), pages 201-216, March.
  • Handle: RePEc:oup:cambje:v:26:y:2002:i:2:p:201-216
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    Cited by:

    1. Karl Aiginger & Michael Landesmann, 2002. "Competitive Economic Performance: The European View," WIFO Working Papers 179, WIFO.
    2. Eckhard Hein & Artur Tarassow, 2010. "Distribution, aggregate demand and productivity growth: theory and empirical results for six OECD countries based on a post-Kaleckian model," Cambridge Journal of Economics, Oxford University Press, vol. 34(4), pages 727-754.
    3. Bilge Erten, 2010. "Industrial Upgrading and Export Diversification: A Comparative Analysis of Economic Policies in Turkey and Malaysia," Working Papers id:2778, eSocialSciences.
    4. Miguel A. Leon-Ledesma & Anthony P. Thirlwall, 2002. "Is the natural rate of growth exogenous? A reply," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 55(221), pages 229-232.
    5. repec:euf:qreuro:0112-03 is not listed on IDEAS
    6. repec:ilo:ilowps:470930 is not listed on IDEAS
    7. Porcile, Gabriel & de Souza, Alexandre Gomes & Viana, Ricardo, 2011. "External debt sustainability and policy rules in a small globalized economy," Structural Change and Economic Dynamics, Elsevier, vol. 22(3), pages 269-276, September.
    8. Sandy DALL’ERBA & Rachel GUILLAIN & Julie LE GALLO, 2009. "Impact Of Structural Funds On Regional Growth: How To Reconsider A 9 Year-Old Black Box," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 30, pages 77-100.
    9. A. P. Thirlwall, 2013. "Commentary on Kaldor's 1970 Regional Growth Model," Scottish Journal of Political Economy, Scottish Economic Society, vol. 60(5), pages 492-494, November.
    10. A. P. Thirlwall, 2014. "Kaldor's 1970 Regional Growth Model Revisited," Scottish Journal of Political Economy, Scottish Economic Society, vol. 61(4), pages 341-347, September.
    11. Storm, Servaas. & Naastepad, C.W.M., 2012. "Wage-led or profit-led supply : wages, productivity and investment," ILO Working Papers 994709303402676, International Labour Organization.
    12. Mario Cimoli & Gabriel Porcile, 2014. "Technology, structural change and BOP-constrained growth: a structuralist toolbox," Cambridge Journal of Economics, Oxford University Press, vol. 38(1), pages 215-237.
    13. Francesca D'Auria & Jesus Maria Irigoyen & Josefa Monteagudo & Plamen Nikolov & Alexander Rutkowski & Michael Sket & Ann-Louise Winther, . "Quarterly Report on the Euro Area (QREA), Vol.11, No.2 (2012)," Quarterly Report on the Euro Area (QREA), Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    14. Botta, Alberto, 2009. "A structuralist North-South model on structural change, economic growth and catching-up," Structural Change and Economic Dynamics, Elsevier, vol. 20(1), pages 61-73, March.
    15. Nishi, Hiroshi, 2016. "A multi-sectoral balance-of-payments-constrained growth model with sectoral heterogeneity," Structural Change and Economic Dynamics, Elsevier, vol. 39(C), pages 31-45.
    16. Miguel A. León-Ledesma, 2000. "Cumulative Growth and the Catching-up Debate from a Dis-equilibrium Standpoint," Studies in Economics 0001, School of Economics, University of Kent.
    17. Serino, L.A., 2009. "Positive natural resource shocks and domestic adjustments in a semi-industrialized economy: Argentina in the 2004-2007 period," ISS Working Papers - General Series 18709, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague.

    More about this item

    JEL classification:

    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies

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