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Catching-up with the "locomotive": a simple theory

  • Raouf Boucekkine


    (CORE, Catholic University of Louvain)

  • Benteng Zou


    (CREA, University of Luxembourg)

This paper extends the standard neoclassical model by considering a technology sector through which an economy with limited human capital attempts to catch up with a given "locomotive" pushing exogenously technical progress. In periods of technological stagnation, economies close enough to the frontier may find it optimal to not catch up, which reinforces worldwide technological sclerosis. Under sustainable technological growth, all the other economies will sooner or later engage in imitation. Such a phase of technology adoption may be delayed depending on certain deep characteristics of the followers.

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Paper provided by Center for Mathematical Economics, Bielefeld University in its series Center for Mathematical Economics Working Papers with number 428.

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Length: 12 pages
Date of creation: Mar 2010
Date of revision:
Handle: RePEc:bie:wpaper:428
Contact details of provider: Postal: Postfach 10 01 31, 33501 Bielefeld
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  1. 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.
  2. BOUCEKKINE, Raouf & SAGLAM, Cagri & VALLEE, Thomas, . "Technology adoption under embodiment: a two-stage optimal control approach," CORE Discussion Papers RP 1702, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  3. Raouf Boucekkine & Blanca Martínez & CARGI SAGLAM, 2003. "The Development Problem Under Embodiment," Working Papers. Serie AD 2003-08, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
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