Technological Innovation and Divergence in Economic Growth

Francisco Javier Santos-Arteaga
Additional contact information
Francisco Javier Santos-Arteaga: Complutense University

Chapter 3 in Managing Economies, Trade and International Business, 2010, pp 44-59 from Palgrave Macmillan

Abstract: Abstract The club convergence phenomenon among countries that occurred during the last half of the twentieth century and persists has been widely documented, and remains a main subject of study nowadays.1 Despite early growth theories relying on the advantage of backwardness as a catching up mechanism, the expected convergence between different growth clubs of countries did not take place. The emphasis was then moved towards endogenous growth mechanisms,2 educational systems,3 as well as, financial development and credit market imperfections.4 While recognizing the important role played by the financial sector in the technological development of countries,5 there is a concentration on endogenous growth mechanisms and human capital. In the first instance, the literature has advanced towards the recognition that the assimilation of the most advanced technological capital by less developed countries constitutes a growth mechanism that requires important amounts of both physical and human capital investment.6 Education, though an important factor for growth, has been displaced by differences in total factor productivity among countries, from which education is only partially responsible.7

Keywords: Human Capital; Arrival Rate; Total Factor Productivity; Knowledge Spillover; Innovative Activity (search for similar items in EconPapers)
Date: 2010
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-27401-3_3

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230274013

DOI: 10.1057/9780230274013_3

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().