How much is Backwardness an Advantage? Fur¬ther Reflections on the Road from Backward¬ness advantages to Convergence

Massimo Tamberi

Economia Internazionale / International Economics, 1992, vol. 45, issue 1, 59-76

Abstract: This work considers a hypothesis on mechanisms of productivity levels convergence among countries in an attempt to examine some of the current assumptions in this field. After a short summary of the chief findings of other authors, the study focuses on the pioneer follower contraposition, pointing out the great differences among followers and the necessity to distinguish more accurately which countries are or were to be considered backward. A simple formal macro model is proposed, in which the possibility both of convergence and of divergence is allowed; it does not aim to explain the whole process of catching-up, but is Limited to its first phases, arguing that after some time changes in the follower economic structure need another convergence mechanism. The model avoids the use of a production function framework, judged unrealistic in the context of highly differentiated countries; so the mechanism of the (possible) convergence is based on an export-led model whose virtuous circle starts from technology transfers. It is argued that a serious balance of payments constraint, due to the import of capital goods, may prevent the convergence or, at least, slow down the pursuit, and that a positive role is attributable to a wage gap linked to labour surpluses.

Date: 1992
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