Catching-up with the "locomotive"
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.
|Date of creation:||16 Aug 2011|
|Date of revision:|
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- 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.
- BOUCEKKINE, RAOUF & SAGLAM , Cagri & VALLÉE, Thomas, 2003.
"Technology adoption under embodiment: a two-stage optimal control approach,"
CORE Discussion Papers
2003055, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Boucekkine, Raouf & Saglam, Cagri & Vall Ee, Thomas, 2004. "Technology Adoption Under Embodiment: A Two-Stage Optimal Control Approach," Macroeconomic Dynamics, Cambridge University Press, vol. 8(02), pages 250-271, April.
- Raouf, BOUCEKKINE & Cagri, SAGLAM & Thomas, VALLEE, 2002. "Technology adoption under embodiment : A two-stage optimal control approach," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2003007, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- 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).
- Raouf, BOUCEKKINE & Blanca, MARTINEZ & Cagri, SAGLAM, 2003.
"The Development problem under embodiment,"
Discussion Papers (IRES - Institut de Recherches Economiques et Sociales)
2003006, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- 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).
- BOUCEKKINE, Raouf & MARTINEZ, Blanca & SAGLAM, Cagri, . "The Development problem under embodiment," CORE Discussion Papers RP 1852, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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