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Title:Catching-up with the 'locomotive': a simple theory PDF Logo
Authors:Boucekkine, Raouf
Zou, Benteng
Issue Date:2010
Series/Report no.:Working papers // Institute of Mathematical Economics 428
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.
Persistent Identifier of the first edition:urn:nbn:de:hbz:361-16609
Document Type:Working Paper
Appears in Collections:Working Papers, Institute of Mathematical Economics, Universität Bielefeld

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