Why Doesn't Technology Flow from Rich to Poor Countries?
Jeremy Greenwood and
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Harold Cole: University of Pennsylvania
No 834, 2012 Meeting Papers from Society for Economic Dynamics
What determines the choice of technology within a country? While there could be many factors, the efficiency of the country's financial system may play a significant role. To address this question, a dynamic contract model is embedded into a general equilibrium setting with ompetitive intermediation. The ability of an intermediary to monitor and control the cash flows of a firm plays an important role in the decision to underwrite technology adoption. Can such a theory help to explain the differences in TFP and establishment-size distributions between India, Mexico and the U.S.? Some applied analysis suggests that answer is yes.
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Journal Article: Why Doesn't Technology Flow From Rich to Poor Countries? (2016)
Working Paper: Why Doesn't Technology Flow from Rich to Poor Countries? (2016)
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Working Paper: Why Doesn't Technology Flow from Rich to Poor Countries? (2015)
Working Paper: Why Doesn't Technology Flow from Rich to Poor Countries? (2014)
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