Technological catch-up or neoclassical convergence? Identifying the channels of convergence for Italian regions

Detecting Technological Catch-up in Economic Convergence

Our aim is to address the problem of measuring how much of the convergence that we observe is due to convergence in technology versus convergence in capital-labour ratios, in the absence of data on the level of technology. To this aim, we first develop a growth model where technology accumulation in lagging economies depends on their propensity to innovate and on technological spillovers, and c...

Convergence, Catch Up, and the Future of Latin America

Income Convergence In Iranian Regions

Technological Change, Technological Catch-up, and Capital Deepening: Relative Contributions to Growth and Convergence During 90’s

In this paper we investigate three sources of economic growth and evolution of world income distribution during the 90’s: (i) technological change, (ii) efficiency change (the catching-up) and (iii) capital deepening. Our research is an extension to recent study of Kumar and Russell (2002), which we complement in two ways: we considering a more recent period (the 90’s instead of 1965-90) and, a...

Convergence in Neoclassical Vintage Capital Growth Models

Most growth models assume capital is homogeneous. This contradicts intuition and empirical evidence that the majority of technology is embodied in the capital stock. Classic papers from the late 1950’s and 1960’s show that non-optimization models display the same asymptotic growth rates whether technology is embodied (vintage capital) or disembodied. This paper uses new numerical optimization t...