Classical and technological convergence:beyond the Solow-Swann model

Dowrick, Steve and Rogers, Mark (2002). Classical and technological convergence:beyond the Solow-Swann model. Oxford Economic Papers, 54 (3), pp. 369-385.


Recent investigations into cross-country convergence follow Mankiw, Romer, and Weil (1992) in using a log-linear approximation to the Swan-Solow growth model to specify regressions. These studies tend to assume a common and exogenous technology. In contrast, the technology catch-up literature endogenises the growth of technology. The use of capital stock data renders the approximations and over-identification of the Mankiw model unnecessary and enables us, using dynamic panel estimation, to estimate the separate contributions of diminishing returns and technology transfer to the rate of conditional convergence. We find that both effects are important.

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Divisions: Aston Business School > Economics finance & entrepreneurship
Uncontrolled Keywords: classical ,technological,convergence,solow-swan,growth,model
Full Text Link: http://oep.oxfo ... ontent/54/3/369
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Published Date: 2002
Authors: Dowrick, Steve
Rogers, Mark

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