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Catching-up with the “locomotive”: a simple theory

  • Raouf BOUCEKKINE

    ()

    (UNIVERSITE CATHOLIQUE DE LOUVAIN, Department of Economics and Core, Univerity of Glasgow, Department of Economics)

  • Benteng ZOU

    ()

    (University of Luxembourg, CREA)

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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File URL: http://sites.uclouvain.be/econ/DP/IRES/2010011.pdf
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Paper provided by Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) in its series Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) with number 2010011.

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Length: 11
Date of creation: 04 Mar 2010
Date of revision:
Handle: RePEc:ctl:louvir:2010011
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  1. 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).
  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. 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.
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