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
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)
Note: ISSN 2039-1854
References: Add references at CitEc
Citations: View citations in EconPapers (3) Track citations by RSS feed
Downloads: (external link)
Journal Article: Nonlinear economic growth: Some theory and cross-country evidence (2007)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:pie:dsedps:2003/14
Access Statistics for this paper
More papers in Discussion Papers from Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy Contact information at EDIRC.
Bibliographic data for series maintained by ().