全球智库信息集成服务系统(G2TT): DP3467 Distance to Frontier, Selection, and Economic Growth

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP3467
	DP3467 Distance to Frontier, Selection, and Economic Growth
	Philippe Aghion; Daron Acemoğlu; Fabrizio Zilibotti
发表日期	2002-07-20
出版年	2002
语种	英语
摘要	We analyse an economy where managers engage both in the adoption of technologies from the world frontier and in innovation activities. The selection of high-skill managers is more important for innovation activities. As the economy approaches the technology frontier, selection becomes more important. As a result, countries at early stages of development pursue an investment-based strategy, with long-term relationships, high average size and age of firms, large average investments, but little selection. Closer to the world technology frontier, there is a switch to an innovation-based strategy with short-term relationships, younger firms, less investment and better selection of managers. We show that relatively backward economies may switch out of the investment-based strategy too soon, so certain economic institutions and policies, such as limits on product market competition or investment subsidies, which encourage the investment-based strategy may be beneficial. Societies that cannot switch out of the investment-based strategy, however, fail to converge to the world technology frontier. Non-convergence traps are more likely when policies and institutions are endogenized, enabling beneficiaries of existing policies to bribe politicians to maintain these policies.
主题	International Macroeconomics
关键词	Appropriate institutions Convergence Economic growth Innovation Imitation Political economy of growth Selection Technical change Traps
URL	https://cepr.org/publications/dp3467
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/532485
推荐引用方式 GB/T 7714	Philippe Aghion,Daron Acemoğlu,Fabrizio Zilibotti. DP3467 Distance to Frontier, Selection, and Economic Growth. 2002.