haku: @indexterm open economy / yhteensä: 204
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| Tekijä: | Elkan, R. van |
| Otsikko: | Catching up and slowing down: learning and growth patterns in an open economy |
| Lehti: | Journal of International Economics
1996 : AUG, VOL. 41:1/2, p. 95-111 |
| Asiasana: | LEARNING GROWTH OPEN ECONOMY |
| Kieli: | eng |
| Tiivistelmä: | This paper develops a model of an open economy in which the stock of human capital may be augmented by either imitation or innovation. Productivity in imitation depends on the difference between the body of world knowledge and an individual's stock of human capital (the knowledge gap), while productivity in innovation depends on past behavior through learning-by-doing. The model predicts convergence of growth rates, but not (necessarily) of per capita income levels, in the steady state. |
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