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Knowledge and growth in the very long run

Listed author(s):
  • Strulik, Holger

This paper proposes a theory for the gradual evolution of knowledge diffusion and growth over the very long run. A feedback mechanism between capital accumulation and the ease of knowledge diffusion explains a long epoch of (quasi-) stasis and an epoch of high growth linked by a gradual economic take-off. It is shown how the feedback mechanism can explain the Great Divergence, the failure of less developed countries to attract capital from abroad, and a productivity slowdown in fully developed countries. An extension towards a two-region world economy shows robustness of the gradual take-off and other interesting interaction between forerunners and followers of the Industrial Revolution.

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File URL: https://www.econstor.eu/bitstream/10419/70208/1/730388077.pdf
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Paper provided by University of Goettingen, Department of Economics in its series Center for European, Governance and Economic Development Research Discussion Papers with number 145.

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Date of creation: 2012
Handle: RePEc:zbw:cegedp:145
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Platz der Göttinger Sieben 3, 37073 Göttingen

Web page: http://www.cege.wiso.uni-goettingen.de/

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