Knowledge and growth in the very long run
Holger Strulik ()
No 145, Center for European, Governance and Economic Development Research Discussion Papers from University of Goettingen, Department of Economics
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)
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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 (2010)
Working Paper: Knowledge and Growth in the Very Long-Run (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:cegedp:145
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