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A model of technology adoption and growth

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  • Stephen L. Parente

    (Department of Economics, Northeastern University, Boston, MA 02115, USA)

Abstract

We construct a model of economic growth in which firms adopt more advanced technologies. In order to advance its technology, a firm must make an investment. The size of this investment depends on the size of the technology adoption barriers in the firm's country. Assuming a Markov chain for these barriers, we examine the amount of variation and persistence in the chain for which the model matches the observed output disparity across countries and the mobility of nations. Our calibration suggests a range for the size of these barriers of a factor five, and the presence of a barrier trap.

Suggested Citation

  • Stephen L. Parente, 1995. "A model of technology adoption and growth," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 6(3), pages 405-420.
    • Handle: RePEc:spr:joecth:v:6:y:1995:i:3:p:405-420
    Note: Received: January 10, 1993; revised version May 16, 1994
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    Cited by:

    1. Ayesha Afzal & Saba Fazal Firdousi & Ayma Waqar & Minahil Awais, 2022. "The Influence of Internet Penetration on Poverty and Income Inequality," SAGE Open, , vol. 12(3), pages 21582440221, August.
    2. Canton, E.J.F. & de Groot, H.L.F. & Nahuis, R., 1999. "Vested Interests and Resistance to Technology Adoption," Other publications TiSEM 0ccbafa5-3dcf-45f7-88b8-0, Tilburg University, School of Economics and Management.
    3. Aubhik Khan & B. Ravikumar, 2002. "Costly Technology Adoption and Capital Accumulation," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 5(2), pages 489-502, April.
    4. Emilio Barucci & Fausto Gozzi, 2001. "Technology adoption and accumulation in a vintage-capital model," Journal of Economics, Springer, vol. 74(1), pages 1-38, February.
    5. Chen, Been-Lon & Mo, Jie-Ping & Wang, Ping, 2002. "Market frictions, technology adoption and economic growth," Journal of Economic Dynamics and Control, Elsevier, vol. 26(11), pages 1927-1954, September.
    6. Roc Armenter & Amartya Lahiri, 2006. "Endogenous productivity and development accounting," Staff Reports 258, Federal Reserve Bank of New York.
    7. Fu, Wentao & Le Riche, Antoine, 2021. "Endogenous growth model with Bayesian learning and technology selection," Mathematical Social Sciences, Elsevier, vol. 114(C), pages 58-71.
    8. Daniel Toro González & José Mola Ávila & Vanessa Angulo Carvajal & Martha Castro Porto & José Manuel Gómez & Marlis Angulo Vásquez, 2015. "El impacto tecnológico de la innovación en la industria naval: El Caso de Cotecmar," Revista Economía y Región, Universidad Tecnológica de Bolívar, vol. 9(2), pages 147-167, December.
    9. Mehmet Nar, 2020. "The Relationship Between Human Capital and Financial Development: A Case Study of Turkey," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 11(1), pages 157-170, January.
    10. Stephen L. Parente & Edward C. Prescott, 1991. "Technology adoption and growth," Staff Report 136, Federal Reserve Bank of Minneapolis.
    11. Funk, Peter, 2008. "Entry and growth in a perfectly competitive vintage model," Journal of Economic Theory, Elsevier, vol. 138(1), pages 211-236, January.
    12. Canton, Erik J. F. & de Groot, Henri L. F. & Nahuis, Richard, 2002. "Vested interests, population ageing and technology adoption," European Journal of Political Economy, Elsevier, vol. 18(4), pages 631-652, November.

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