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Concerning Inequality, Technology Adoption, and Structural Change

  • Radhika Lahiri

    ()

    (QUT)

  • Shyama Ratnasiri

Empirical evidence suggests that there has been a divergence over time in income distributions across countries and within countries. In this paper we study a simple dynamic general equilibrium model of technology adoption which is consistent with these stylized facts. In our model, growth is endogenous, and agents are assumed to be heterogeneous in their initial holdings of wealth and capital. We find that in the presence of barriers or costs associated with the adoption of more productive technologies, inequalities in wealth and income may increase over time tending to delay the convergence in international income differences. The model is also capable of explaining the observed diversity in the growth pattern of transitional economies. According to the model, this diversity may be the result of variability in adoption costs, or the relative position of a transitional economy in the world income distribution.

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File URL: http://external-apps.qut.edu.au/business/documents/discussionPapers/2007/FINAL%20207.pdf
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Paper provided by School of Economics and Finance, Queensland University of Technology in its series School of Economics and Finance Discussion Papers and Working Papers Series with number 207.

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Length: 18
Date of creation: 01 Nov 2006
Date of revision:
Handle: RePEc:qut:dpaper:207
Contact details of provider: Postal: GPO Box 2434, BRISBANE QLD 4001
Web page: http://www.bus.qut.edu.au/faculty/economics/
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  1. Ryo Horii & Ryoji Ohdoi & Kazuhiro Yamamoto, 2005. "Finance, Technology and Inequality in Economic Development," Development and Comp Systems 0504004, EconWPA, revised 31 Jul 2005.
  2. Krusell, P. & Rios-Rull, J.V., 1993. "Vested Interests in a Positive Theory of Stagnation and Growth," Papers 547, Stockholm - International Economic Studies.
  3. Tullio Jappelli & Luigi Pistaferri, 1999. "The Dynamics of Household Wealth Accumulation in Italy," CSEF Working Papers 27, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy, revised 01 Dec 2000.
  4. Khan, A. & Ravikumar, B., 1997. "Costly Technology Adoption and Capital Accumulation," Working Papers 97-12, University of Iowa, Department of Economics.
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