Abstract

http://ssrn.com/abstract=254553
 
 

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Policy, Technology Adoption, and Growth


William Easterly


New York University - Department of Economics

Robert G. King


Boston University - Department of Economics; Federal Reserve Bank of Richmond - Research Department; National Bureau of Economic Research (NBER)

Ross Levine


UC Berkeley; Milken Institute; National Bureau of Economic Research (NBER)

Sergio T. Rebelo


Northwestern University - Kellogg School of Management; Centre for Economic Policy Research (CEPR); University of Rochester - Department of Economics; National Bureau of Economic Research (NBER)

March 1994

NBER Working Paper No. w4681

Abstract:     
This paper describes a simple model of technology adoption which combines the two engines of growth emphasized in the recent growth literature: human capital accumulation and technological progress. Our model economy does not create new technologies, it simply adopts those that have been created elsewhere. The accumulation of human capital is closely tied to this adoption process: accumulating human capital simply means learning how to incorporate a new intermediate good into the production process. Since the adoption costs are proportional to the labor force, the model does not display the counterfactual scale effects that are standard in models with endogenous technical progress. We show that our model is compatible with various standard results on the effects of economic policy on the rate of growth.

Number of Pages in PDF File: 21

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Date posted: December 29, 2000  

Suggested Citation

Easterly, William and King, Robert G. and Levine, Ross and Rebelo, Sergio T., Policy, Technology Adoption, and Growth (March 1994). NBER Working Paper No. w4681. Available at SSRN: http://ssrn.com/abstract=254553

Contact Information

William Easterly (Contact Author)
New York University - Department of Economics ( email )
269 Mercer Street
New York, NY 10003
United States
Robert G. King
Boston University - Department of Economics ( email )
270 Bay State Road
Boston, MA 02215
United States
617-353-5941 (Phone)
Federal Reserve Bank of Richmond - Research Department
P.O. Box 27622
Richmond, VA 23261
United States
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
Ross Levine
UC Berkeley ( email )
545 Student Services Building
Berkeley, CA 94720
United States
Milken Institute ( email )
1250 Fourth Street
Santa Monica, CA 90401
United States
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
Sergio Tavares Rebelo
Northwestern University - Kellogg School of Management ( email )
2001 Sheridan Road
Leverone Hall
Evanston, IL 60208
United States
847-467-2329 (Phone)
847-491-5719 (Fax)
Centre for Economic Policy Research (CEPR)
77 Bastwick Street
London, EC1V 3PZ
United Kingdom
University of Rochester - Department of Economics ( email )
Harkness Hall
Rochester, NY 14627
United States
585-275-5252 (Phone)
585-256-2309 (Fax)
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
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