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Nonlinear Economic Growth: Some Theory and Cross-Country Evidence

Davide Fiaschi () and Andrea Lavezzi ()

Discussion Papers from Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy

Abstract: The paper aims to test the existence of different regimes in the growth process. We propose a simple nonlinear growth model which features different relationships between growth rate and income level. We iden tify its testable implications in terms of state space dynamics. By estimating Markov transition matrices we show that growth is indeed a nonlinear process. Economic growth proceeds by alternating phases of acceleration and deceleration. We discuss the relevance of these results with respect to the issue of income convergence across countries and models of technological diffusion.

Keywords: onlinear growth; distribution dynamics; convergence; structural change; technological diffusion (search for similar items in EconPapers)
JEL-codes: O11 O40 C14 C21 (search for similar items in EconPapers)
Date: 2003-01-01
Note: ISSN 2039-1854
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Journal Article: Nonlinear economic growth: Some theory and cross-country evidence (2007) Downloads
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