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What Does The Solow Model Tell Us About Economic Growth? : Complete and Partial Cross-country Excludability of Technologies

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Abstract

This paper presents, within a framework of the Solow model, evidence that there should be two different reasons for convergence. One is due to diminishing returns to capital and the other is due to technological diffusion. This paper shows that OECD and low income countries follow a pattern of conditional convergence but middle income countries do not. This seems to imply that technological diffusion has a very large effect only on middle income countries because technologies are partially excludable across countries. In other words, technologies are easily diffused in middle income countries but not in low income countries.

Suggested Citation

  • Toshihiro Okada, 1999. "What Does The Solow Model Tell Us About Economic Growth? : Complete and Partial Cross-country Excludability of Technologies," Royal Holloway, University of London: Discussion Papers in Economics 99/6, Department of Economics, Royal Holloway University of London, revised Feb 2000.
    • Handle: RePEc:hol:holodi:9906
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    Keywords

    Conditional Convergence; Convergence From Above; Partial Cross-country Excludability of Technologies; and Technological Diffusion.;
    All these keywords.

    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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