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Growth and Convergence Through Technological Interdependence

WEI, JIN; Zhou, Yixiao

Description

This paper presents a multi-country version of the Ramsey growth model with cross-country technological interdependence. The results rationalize several stylized facts about growth and convergence. First, individual countries tend to converge toward country-specific balanced growth paths rather than steady-state equilibria. Second, an economy that accounts for a smaller share of the world technology distribution harnesses the “advantages of backwardness” to catch up at a faster speed. Third,...[Show more]

CollectionsANU Research Publications
Date published: 2022
Type: Journal article
URI: http://hdl.handle.net/1885/298607
Source: Macroeconomic Dynamics
DOI: 10.1017/S1365100520000589

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