Why Don't Low-Income Countries Adopt More Productive Technologies?

Reiko Laski and Nicholas Trachter

Richmond Fed Economic Brief, 2021, vol. 21, issue 11

Abstract: Researchers at UCLA, the Richmond Fed and Washington University in St. Louis have developed a theory of economic development in which complementarity in firms' technology-adoption decisions can substantially amplify the negative impacts of distortions in the economy and play an important role in explaining income differences across countries. By integrating theories that separately emphasize the roles of coordination failures and distortions, their unified framework shows that reducing distortions within "big push" regions could unleash massive economic growth.

Keywords: Economic; Growth; and; Fiscal; Policy (search for similar items in EconPapers)
JEL-codes: A31 (search for similar items in EconPapers)
Date: 2021
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