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Less Developed Country Innovation Analysis and the Technology Gap

In: The Gap Between Rich and Poor Nations

Author

Listed:
  • John Fei

    (Yale University)

  • Gustav Ranis

    (Yale University)

Abstract

Increases in material welfare, i.e. economic progress leading to increases in per capita consumption, can be achieved in the long run as the consequence of many factors, including capital accumulation, improvements in the quantity of human resources and technological change. However both economists with a theoretical and those with an empirical and historical bent [1] have increasingly come to the conclusion that, in the long run, technological change is the most crucial — as well as the most difficult to get hold of. On the one hand, the theoretical economists have reminded us of the inevitability of stagnation in per capita income if capital accumulation alone is at work [2]. On the other hand, those with an historical interest have identified modern growth, as the Western world has experienced it over the past 200 years, as an epoch characterised by the routinisation of innovations.

Suggested Citation

  • John Fei & Gustav Ranis, 1972. "Less Developed Country Innovation Analysis and the Technology Gap," International Economic Association Series, in: Gustav Ranis (ed.), The Gap Between Rich and Poor Nations, chapter 13, pages 312-335, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-15456-2_13
    DOI: 10.1007/978-1-349-15456-2_13
    as

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