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Economic growth, leadership and capital flows: the leapfrogging effect

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  • Elise Brezis
  • Daniel Tsiddon

Abstract

The leapfrogging effect has been analysed in a model without capital. However, history has shown numerous cases in which countries lost economic leadership at the same time as they were exporting capital. This work focuses on the interaction between international capital flows, economic growth and the transmission of leadership. We show that capital mobility is at the heart of the adoption of new technologies. Malfunctioning international capital markets that prevent capital imports may delay adoption of the new technology by the lagging country and may postpone or even prevent leapfrogging that would have occurred in the case of free flows of capital. The model shows that capital mobility smooths passing the baton in the relay race for economic leadership.

Suggested Citation

  • Elise Brezis & Daniel Tsiddon, 1998. "Economic growth, leadership and capital flows: the leapfrogging effect," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 7(3), pages 261-277.
    • Handle: RePEc:taf:jitecd:v:7:y:1998:i:3:p:261-277
    DOI: 10.1080/09638199800000014
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    References listed on IDEAS

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    1. Eric J. Bartelsman & Ricardo J. Caballero & Richard K. Lyons, 1991. "Sourcing externalities," Finance and Economics Discussion Series 153, Board of Governors of the Federal Reserve System (U.S.).
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    Cited by:

    1. Arslan Razmi, 2021. "Capital inflows, sustained investment surges and the role of external economies of scale in a developing economy," Metroeconomica, Wiley Blackwell, vol. 72(2), pages 365-387, May.
    2. Marcus Gumpert, 2019. "Multidimensional Core-peripheral Model," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 192-208.
    3. Marcus Gumpert, 2019. "Multidimensional Core-peripheral Model," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(1), pages 192-208.
    4. Furukawa, Yuichi & Takarada, Yasuhiro, 2013. "Technological change and international interaction in environmental policies," MPRA Paper 44047, University Library of Munich, Germany.
    5. Furukawa, Yuichi, 2012. "Perpetual leapfrogging in international competition," MPRA Paper 40126, University Library of Munich, Germany, revised Jul 2012.
    6. Marcus Gumpert, 2020. "Regional Inequality: An Analysis under an Extended Core-Peripheral Model," Journal of Industry, Competition and Trade, Springer, vol. 20(1), pages 157-186, March.
    7. van de Klundert, Theo & Smulders, Sjak, 2001. "Loss of technological leadership of rentier economies: a two-country endogenous growth model," Journal of International Economics, Elsevier, vol. 54(1), pages 211-231, June.
    8. Yuichi Furukawa, 2015. "Leapfrogging cycles in international competition," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 59(2), pages 401-433, June.

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