Technological Spillover, Growth Convergence And Technical Progress: Does technology flow from rich to poor economies?

Why does capital flow from poor to rich countries?

Lucas’ classic paper (1990) highlighted the paucity of capital flows from rich to poor countries, in contrast with predictions of standard theory. He suggested four explanations – but they cannot explain the copious capital flows from certain emerging relatively low-income countries, notably China, to the USA. Empirical studies confirm Lucas’ observation. Additionally, Prasad et al (2007) showe...

Why Doesn’t Technology Flow from Rich to Poor Countries?

What determines the technology that a country adopts? While there could be many factors, the e¢ ciency of the country’s …nancial system may play a signi…cant role. To address this question, a dynamic contract model is embedded into a general equilibrium setting with competitive intermediation. The ability of an intermediary to monitor and control the cash ‡ows of a …rm plays an important role i...

Does Information Technology Increase the Division Between Rich and Poor?

From Technical to Technological: Interpreting Technology Through Composition

This paper traces the development of technology as a discourse and as a way of understanding human activity. In our everyday activity, the notion of technology is often consumed by its purely practical, equipmental, interpretation. Such an interpretation assumes the cultural neutrality of technical things, fully justifying the equivocation of the technical with the technological. Since the 1950...

Nber Working Paper Series Why Doesn't Technology Flow from Rich to Poor Countries?

What determines the technology that a country adopts? While many factors affect technological adoption, the efficiency of the country's financial system may also play a significant role. To address this question, a dynamic contract model is embedded into a general equilibrium setting with competitive intermediation. The ability of an intermediary to monitor and control the cash flows of a firm ...