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| Author: | Dowrick, S. Rogers, M. |
| Title: | Classical and technological convergence: beyond the Solow-Swan growth model |
| Journal: | Oxford Economic Papers
2002 : JUL, VOL. 54:3, p. 369-385 |
| Index terms: | Econometric models Growth theory Technology transfer |
| Language: | eng |
| Abstract: | The paper reconsiders and reconciles recent empirical work on classical convergence and technological catch-up. Central hypothesis is that dimishing returns to investment cause the growth rate of a country to decline as it approaches its steady state level of capital per unit of effective labour - implying that, richer economies grow slower than poorer economies. |
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