Journal Article

Appropriate technology in a Solovian nonlinear growth model

Davide Fiaschi and Andrea Mario Lavezzi

in Oxford Review of Economic Policy

Published on behalf of The Oxford Review of Economic Policy Ltd

Volume 23, issue 1, pages 115-133
Published in print March 2007 | ISSN: 0266-903X
Published online January 2007 | e-ISSN: 1460-2121 | DOI: http://dx.doi.org/10.1093/oxrep/grm008
Appropriate technology in a Solovian nonlinear growth model

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  • Economic Development
  • Technological Change; Research and Development
  • Economic Growth and Aggregate Productivity
  • Econometric and Statistical Methods and Methodology: General
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We propose a Solovian growth model with a convex–concave production function and international technological spillovers. We test the empirical implications of the model, analysing the effects of the productivity slowdown that followed the oil shocks of the 1970s. We argue that this slowdown, altering the world income distribution, affected the pattern of international technological spillovers, taking the poorest countries further away from the technological leaders, and therefore unable to exploit their technologies. The result is the emergence of a poverty trap for low-income countries.

Keywords: convex–concave production function; distribution dynamics; productivity slowdown; international technological spillovers; O11; O33; O47; C14; C21

Journal Article.  6681 words.  Illustrated.

Subjects: Economic Development ; Technological Change; Research and Development ; Economic Growth and Aggregate Productivity ; Econometric and Statistical Methods and Methodology: General ; Single Equation Models; Single Variables

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