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Technological Diffusion, Conditional Convergence, and Economic Growth

David Bloom, David Canning and J.P. Sevilla

No 8713, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Technological diffusion implies a form of 'conditional convergence' as lagging countries catch up with technological leaders. We find strong evidence of technological diffusion but not full convergence; differences in total factor productivity (TFP) persist even in the long run due to differences in geography and institutions. TFP differentials explain a large part of cross-country income differences in our model; our estimates of the rate of return to capital, labor and schooling are completely consistent with micro-economic studies, implying the absence of externalities in aggregate production.

JEL-codes: O3 O4 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dev, nep-ino and nep-tid
Date: 2002-01
Note: EFG PR
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