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Fixed Investment and the Technology Gap in the UK

Author

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  • Beenstock, Michael
  • Whitbread, Chris

Abstract

United Kingdom investment is explained in terms of the international diffusion of technology, where the United States is assumed to be a technological leader and the United Kingdom a technological laggard. The gap between United Kingdom and United States capital-labor ratios is decomposed into four components: an adjustment gap, an information gap, an appropriate technology gap and a resistance gap. The factors that might influence the gap are hypothesized and it is found that the model gives a reasonable account of business investment since 1960.

Suggested Citation

  • Beenstock, Michael & Whitbread, Chris, 1988. "Fixed Investment and the Technology Gap in the UK," CEPR Discussion Papers 229, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:229
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