Knowledge and Growth in the Very Long-Run
Holger Strulik ()
Hannover Economic Papers (HEP) from Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät
This paper proposes a theory for the gradual evolution of knowledge diffusion and growth over the very long run. A feedback mechanism between capital accumulation and the ease of knowledge diffusion explains a long epoch of (quasi-) stasis and an epoch of high growth linked by a gradual economic take-off. It is shown how the feedback mechanism can explain the Great Divergence, the failure of less developed countries to attract capital from abroad, and a productivity slowdown in fully developed countries. An extension towards a two-region world economy shows robustness of the gradual take-off and other interesting interaction between forerunners and followers of the Industrial Revolution.
Keywords: Industrial Revolution; Endogenous Growth; Knowledge Diffusion; Productivity Slowdown; Convergence; Divergence (search for similar items in EconPapers)
JEL-codes: O10 O30 O40 E22 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-fdg, nep-his and nep-knm
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Journal Article: KNOWLEDGE AND GROWTH IN THE VERY LONG RUN (2014)
Working Paper: Knowledge and growth in the very long run (2012)
Working Paper: Knowledge and Growth in the Very Long-Run (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:han:dpaper:dp-459
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