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Technological Diffusion, Convergence, and Growth / Robert J. Barro, Xavier Sala-i-Martin.
- Format:
- Book
- Author/Creator:
- Barro, Robert J.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w5151.
- NBER working paper series no. w5151
- Language:
- English
- Subjects (All):
- Technological innovations.
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1995.
- Cambridge, Mass. : National Bureau of Economic Research, 1995.
- Summary:
- We construct a model that combines elements of endogenous growth with the convergence implications of the neoclassical growth model. In the long run, the world growth rate is driven by discoveries in the technologically leading economies. Followers converge toward the leaders because copying is cheaper than innovation over some range. A tendency for copying costs to increase reduces followers' growth rate and thereby generates a pattern of conditional convergence. We discuss how countries are selected to be technological leaders, and we assess welfare implications. Poorly defined intellectual property rights imply that leaders have insufficient incentive to invent and followers have excessive incentive to copy.
- Notes:
- Print version record
- June 1995.
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