Technological Learning, Social Learning and Technological Change

Raaj Kumar Sah and Joseph Stiglitz
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Raaj Kumar Sah: Yale University

Chapter 12 in The Balance between Industry and Agriculture in Economic Development, 1989, pp 285-298 from Palgrave Macmillan

Abstract: Abstract A central puzzle facing development economists is why it is that the growth rates and income levels of various countries have not converged faster than they have. Indeed, there is some evidence that there has been divergence for many less developed countries (LDCs), rather than convergence. Traditional neoclassical growth theory (Solow, 1956) predicts that, in the long run, the growth rates in all countries should be related only to the rate of technological progress and of population growth; growth rates in per capita incomes should be related only to the rate of labour augmenting technological progress; and differences in levels of per capita consumption should be related to differences in savings rates. Even if the LDCs adopt the best practices of the developed. countries with a lag, the rates of technological progress will be the same, and differences in levels of per capita income will then be related also to the length of the lag in the diffusion of technology.

Keywords: Technological Change; Comparative Advantage; Technological Progress; Imperfect Competition; Capital Labour Ratio (search for similar items in EconPapers)
Date: 1989
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-10274-7_12

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DOI: 10.1007/978-1-349-10274-7_12

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