R&D, Implementation, and Stagnation: A Schumpeterian Theory of Convergence Clubs
We use Schumpeterian growth theory to account for the divergence in per-capita income that has taken place between countries since the mid-19th Century, as well as for the convergence that took place amongst the richest countries during the second half of the 20th Century. The argument is based on t...
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| Veröffentlicht in: | Journal of money, credit and banking credit and banking, 2005-02, Vol.37 (1), p.147-177 |
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| container_start_page | 147 |
| container_title | Journal of money, credit and banking |
| container_volume | 37 |
| creator | Howitt, Peter Mayer-Foulkes, David |
| description | We use Schumpeterian growth theory to account for the divergence in per-capita income that has taken place between countries since the mid-19th Century, as well as for the convergence that took place amongst the richest countries during the second half of the 20th Century. The argument is based on the premise that technological change underwent a fundamental transformation in the 19th Century, associated with new scientific ideas and the increasingly scientific content of new technologies. Countries then sorted themselves into three convergence groups (R&D, Implementation, and Stagnation). A country's group membership depends on initial conditions as well as on fundamentals. |
| doi_str_mv | 10.1353/mcb.2005.0006 |
| format | Article |
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| ispartof | Journal of money, credit and banking, 2005-02, Vol.37 (1), p.147-177 |
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| language | eng |
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| source | JSTOR Archive Collection A-Z Listing |
| subjects | 19th century Analysis Bank credit Competitiveness Convergence Convergence (Social sciences) Countries Credit Economic development Economic models Economic theory Economics Emerging technology Finance Growth theory Human capital Laws of Motion Money Productivity R&D Research & development Research and development Shorter Papers, Discussions, and Letters Stagnation Studies Technological innovation Technology transfer United States |
| title | R&D, Implementation, and Stagnation: A Schumpeterian Theory of Convergence Clubs |
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