 Neoclassical Convergence Versus Technological Catch-Up: A Contribution for Reaching a ConsensusUniversité Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL Abstract: New macro empirical evidence is provided to assess the relative importance of object andidea gaps in explaining the world income distribution dynamics over a benchmark period of 1960-1985. Results are then extended through 1995. Formal statistical hypothesis tests allow us to discriminatebetween two competing growth models: (i) the standard neoclassical growth model similarto that employed by Mankiw, Romer, and Weil (1992), and (ii) an endogenous growth modelclosely related to the Nelson and Phelps' approach (1966) that emphasizes the importance of technologytransfer in addition to factor accumulation as an opportunity to catch up. First, the lattercan hardly be rejected and reveals itself to be either a reliable alternative or a complementarymodel, depending on the sample under study. Second, taking into consideration the impact of thetechnological catch-up phenomenon allows us to better capture and locally fit the pattern of incomedistribution dynamics that took place over the period of 1960-1995. Keywords: endogenous growth; neoclassical convergence; technological catch-up; income dynamics (search for similar items in EconPapers) Published in Problems and Perspectives in Management, 2004, 3, pp.15-42 There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:hal:cesptp:halshs-00007815 Access Statistics for this paper More papers in Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL |
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