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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. |
条目包含的文件 | 条目无相关文件。 |
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