Technological assimilation and divergence in times of crisis
We study an endogenous stochastic growth model whose dynamic evolution is determined by an adaptive learning process defining the accumulation of technological knowledge within countries. Both the assimilation of technological knowledge and the arrival rate of innovations depend on the technological...
| Autores: | , , |
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| Tipo de recurso: | artículo |
| Fecha de publicación: | 2016 |
| País: | España |
| Institución: | Universidad Complutense de Madrid (UCM) |
| Repositorio: | Docta Complutense |
| Idioma: | inglés |
| OAI Identifier: | oai:docta.ucm.es:20.500.14352/23573 |
| Acceso en línea: | https://hdl.handle.net/20.500.14352/23573 |
| Access Level: | acceso abierto |
| Palabra clave: | 338.3(474) 338.1(474) O31 O33 Technology assimilation Learning Stochastic growth National innovation system Technological development Economic crisis Baltic states European Union Crisis económicas Desarrollo económico Econometría (Economía) Economía internacional 5307.06 Fluctuaciones Económicas 5307.03 Modelos y Teorías del desarrollo Económico 5307.04 Estudios del desarrollo Económico 5302 Econometría 5310 Economía Internacional |
| Sumario: | We study an endogenous stochastic growth model whose dynamic evolution is determined by an adaptive learning process defining the accumulation of technological knowledge within countries. Both the assimilation of technological knowledge and the arrival rate of innovations depend on the technological development level of countries. We illustrate how heterogeneous levels of technological development provide laggard countries with insufficient innovation incentives, leading to divergences in total factor productivity and their technological stagnation. The model is simulated numerically using data from the current Innovation Union Scoreboard where the main expected growth patterns of the Baltic States are compared to those of the reference innovators within the European Union area. |
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