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

Author

Listed:
  • Raouf Boucekkine
  • Benteng Zou

    (CREA, University of Luxembourg)

Abstract

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.

Suggested Citation

  • Raouf Boucekkine & Benteng Zou, 2010. "Catching-up with the “locomotive”: a simple theory," DEM Discussion Paper Series 10-02, Department of Economics at the University of Luxembourg.
    • Handle: RePEc:luc:wpaper:10-02
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    File URL: http://wwwfr.uni.lu/content/download/28779/339974/file/2010_02-Catching-up%20with%20the%20locomotive-%20a%20simple%20theory.pdf
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    Cited by:

    1. Luboš Komárek & Martin Motl & Filip Novotný & Ladislav Prokop, 2012. "Německá ekonomická "lokomotiva" a česká ekonomika [German Economic "Locomotive" and the Czech Economy]," Politická ekonomie, Prague University of Economics and Business, vol. 2012(4), pages 442-458.

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