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Catch-up, Growth and Convergence in the OECD

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  • de la Fuente, A.

Abstract

This paper analyses the sources of post-war growth and convergence in the OECD using an extension of Mankiw, Romer and Weil's (1992) model in which the rate of technical progress is determined endogenously by the level of R&D spending and a process of technological catch-up. The results indicate that the impact of R&D investment on growth has been significant. Technological catch-up is found to be very fast and seems to have played an important role in OECD convergence during the first half of the sample period. The exhaustion of this effect, moreover, may help explain the slowdown of growth and convergence after the mid-1970s, and suggests that further convergence will require an important investment effort on the part of poorer countries. Finally, there is evidence that the neoclassical convergence effect is also operative but its contribution to convergence in output per worker has been minor.
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Suggested Citation

  • de la Fuente, A., 1995. "Catch-up, Growth and Convergence in the OECD," UFAE and IAE Working Papers 314.95, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  • Handle: RePEc:aub:autbar:314.95
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    Cited by:

    1. Arantza Gorostiaga, 1999. "¿Cómo afecta el capital público y el capital humano al crecimiento?," Investigaciones Economicas, Fundación SEPI, vol. 23(1), pages 95-114, January.
    2. de la Fuente, Angel, 2002. "On the sources of convergence: A close look at the Spanish regions," European Economic Review, Elsevier, vol. 46(3), pages 569-599, March.
    3. Julia Korosteleva & Colin Lawson, 2010. "The Belarusian case of transition: whither financial repression?," Post-Communist Economies, Taylor & Francis Journals, vol. 22(1), pages 33-53.
    4. Georges Siotis, 2000. "Market Power, Total Factor Productivity Growth, and Structural Change. An Illustration for Spain, 1983-1996," Working Papers 0001, Banco de España;Working Papers Homepage.
    5. Philippe Aghion, 2004. "Growth and Development: A Schumpeterian Approach," Annals of Economics and Finance, Society for AEF, vol. 5(1), pages 1-25, May.
    6. Tondl, Gabriele & Vuksic, Goran, 2003. "What makes regions in Eastern Europe catching up? The role of foreign investment, human resources and geography," ZEI Working Papers B 12-2003, University of Bonn, ZEI - Center for European Integration Studies.
    7. Siotis, Georges, 2003. "Competitive pressure and economic integration: an illustration for Spain, 1983-1996," International Journal of Industrial Organization, Elsevier, vol. 21(10), pages 1435-1459, December.
    8. DOBSON, Steve & RAMLOGAN, Carlyn & STROBL, Eric, 2003. "Why do rates of convergence differ ? A meta-regression analysis," CORE Discussion Papers 2003020, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    9. Rosa Capolupo, 2005. "THE NEW GROWTH THEORIES AND THEIR EMPIRICS, Discussion Paper in Economics, University of Glasgow, N. 2005-04 (http://www.gla.ac.uk/Acad/Economics," GE, Growth, Math methods 0506003, EconWPA.
    10. Panagiotis Artelaris & Paschalis A. Arvanitidis & George Petrakos, 2011. "Convergence patterns in the world economy: exploring the nonlinearity hypothesis," Journal of Economic Studies, Emerald Group Publishing, vol. 38(3), pages 236-252, August.
    11. Rosa Capolupo, "undated". "The New Growth Theoris and their Empirics," Working Papers 2005_4, Business School - Economics, University of Glasgow.
    12. Sequeira, Tiago Neves, 2002. "The "Iberian Tigers" versus The "Celtic Tiger": Economic Growth Paths in an Economic History perspective," FEUNL Working Paper Series wp416, Universidade Nova de Lisboa, Faculdade de Economia.

    More about this item

    Keywords

    ECONOMIC GROWTH;

    JEL classification:

    • O49 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Other

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