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Wirtschaftswissenschaftliche Fakultät, Universität Hannover >
Diskussionspapiere, Wirtschaftswissenschaftliche Fakultät, Universität Hannover >
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http://hdl.handle.net/10419/66027
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| Title: | | Knowledge and growth in the very long run  |
| Authors: | | Strulik, Holger |
| Issue Date: | | 2010 |
| Series/Report no.: | | Discussion Paper, Wirtschaftswissenschaftliche Fakultät, Leibniz Universität Hannover 459 |
| Abstract: | | 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. |
| Subjects: | | Industrial Revolution Endogenous Growth Knowledge Diffusion Productivity Slowdown Convergence Divergence |
| JEL: | | O10 O30 O40 E22 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Diskussionspapiere, Wirtschaftswissenschaftliche Fakultät, Universität Hannover
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