Classical and technological convergence: beyond the Solow-Swann model

Steve Dowrick, Mark Rogers

Research output: Contribution to journalArticle

Abstract

Recent investigations into cross-country convergence follow Mankiw, Romer, and Weil (1992) in using a log-linear approximation to the Swan-Solow growth model to specify regressions. These studies tend to assume a common and exogenous technology. In contrast, the technology catch-up literature endogenises the growth of technology. The use of capital stock data renders the approximations and over-identification of the Mankiw model unnecessary and enables us, using dynamic panel estimation, to estimate the separate contributions of diminishing returns and technology transfer to the rate of conditional convergence. We find that both effects are important.
Original languageEnglish
Pages (from-to)369-385
Number of pages17
JournalOxford Economic Papers
Volume54
Issue number3
DOIs
Publication statusPublished - 2002

Keywords

  • classical
  • technological
  • convergence
  • solow-swan
  • growth
  • model

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