Technological Diffusion, Convergence and Growth

Robert Barro and Xavier Sala-i-Martin

No 1255, CEPR Discussion Papers from Centre for Economic Policy Research

Abstract: We construct a model that combines elements of endogenous growth with the convergence implications of the neoclassical growth model. In the long run the world growth rate is driven by discoveries in those economies that lead in their use of technology. Followers converge towards leaders because copying is cheaper than innovation over some range. A tendency for copying costs to increase reduces followers' growth rates and thereby generates a pattern of conditional convergence. We discuss how countries are selected to be technological leaders, and we assess welfare implications. Poorly-defined intellectual property rights imply that leaders have insufficient incentive to invent and followers have excessive incentive to copy.

Keywords: Convergence; Growth; R&D Models; Technological Diffusion (search for similar items in EconPapers)
JEL-codes: O3 O34 O4 O41 (search for similar items in EconPapers)
Date: 1995-10
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Citations: View citations in EconPapers (107)

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Related works:
Journal Article: Technological Diffusion, Convergence, and Growth (1997)
Working Paper: technological Diffusion, Convergence and Growth (1995)
Working Paper: Technological Diffusion, Convergence, and Growth (1995)
Working Paper: Technological diffusion, convergence and growth (1995)
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