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Embodied technological change, capital sectoral allocation and export-led growth

  • Araujo, Ricardo Azevedo
  • Lima, Gilberto Tadeu

This paper contributes to the literature on economic growth by seeking to join several lines of research on structural factors in a more fully specified framework, on the one hand, and by making this more inclusive supply side to interact with demand factors in a model of export-led growth, on the other hand. Balance-of-payments constraints influence the adoption of investment-specific technological change which requires the import of capital goods, while the sectoral allocation of physical and human capital is likewise revealed to be crucial for economic growth, both results having important policy implications.

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File URL: http://mpra.ub.uni-muenchen.de/29810/1/MPRA_paper_29810.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 29810.

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Date of creation: Mar 2011
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Handle: RePEc:pra:mprapa:29810
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  1. Greenwood, Jeremy & Hercowitz, Zvi & Krusell, Per, 1997. "Long-Run Implications of Investment-Specific Technological Change," American Economic Review, American Economic Association, vol. 87(3), pages 342-62, June.
  2. Plutarchos Sakellaris & Daniel J. Wilson, 2004. "Quantifying Embodied Technological Change," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 7(1), pages 1-26, January.
  3. Mankiw, N Gregory & Romer, David & Weil, David N, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, MIT Press, vol. 107(2), pages 407-37, May.
  4. Hendricks, Lutz, 2000. "Equipment investment and growth in developing countries," Journal of Development Economics, Elsevier, vol. 61(2), pages 335-364, April.
  5. Greg Huffman, 2007. "Endogenous Growth Through Investment-Specific Technological Change," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 10(4), pages 615-645, October.
  6. Araujo, Ricardo Azevedo & Teixeira, Joanilio Rodolpho, 2002. "Structural change and decisions on investment allocation," Structural Change and Economic Dynamics, Elsevier, vol. 13(2), pages 249-258, June.
  7. 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.
  8. Dale W. Jorgenson, 1966. "The Embodiment Hypothesis," Journal of Political Economy, University of Chicago Press, vol. 74, pages 1.
  9. A. P. Thirlwall, 1997. "Reflections on the Concept of Balance-of-Payments-Constrained Growth," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 19(3), pages 377-385, April.
  10. Bakhshi, Hasan & Larsen, Jens, 2005. "ICT-specific technological progress in the United Kingdom," Journal of Macroeconomics, Elsevier, vol. 27(4), pages 648-669, December.
  11. Jörg MAYER, 2001. "Technology Diffusion, Human Capital And Economic Growth In Developing Countries," UNCTAD Discussion Papers 154, United Nations Conference on Trade and Development.
  12. Dale W. Jorgenson & Kevin J. Stiroh, 2000. "Raising the Speed Limit: U.S. Economic Growth in the Information Age," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 31(1), pages 125-236.
  13. Araujo, Ricardo Azevedo, 2004. "Optimal human investment allocation," Economics Letters, Elsevier, vol. 85(1), pages 71-76, October.
  14. Jorgenson, Dale W., 1966. "The Embodiment Hypothesis," Scholarly Articles 3403063, Harvard University Department of Economics.
  15. Marquis, Milton H. & Trehan, Bharat, 2008. "On using relative prices to measure capital-specific technological progress," Journal of Macroeconomics, Elsevier, vol. 30(4), pages 1390-1406, December.
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