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Why Doesn't Technology Flow from Rich to Poor Countries? / Harold L. Cole, Jeremy Greenwood, Juan M. Sanchez.
- Format:
- Book
- Author/Creator:
- Cole, Harold L.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w20856.
- NBER working paper series no. w20856
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2015.
- Summary:
- What determines the technology that a country adopts? While many factors affect technological adoption, the efficiency of the country's financial system may also play a significant role. To address this question, a dynamic contract model is embedded into a general equilibrium setting with competitive intermediation. The ability of an intermediary to monitor and control the cash flows of a firm plays an important role in the technology adoption decision. Can such a theory help to explain the differences in total factor productivity and establishment-size distributions across India, Mexico, and the United States? A quantitative illustration suggests the answer is yes.
- Notes:
- Print version record
- January 2015.
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