Aghion, Philippe; Comin, Diego; Howitt, Peter; Tecu, Isabel - Harvard Business School, Harvard University - 2009
theoretical model, growth results from innovations that allow local sectors to catch up with frontier technology. In poor … countries, catching up requires the cooperation of a foreign investor who is familiar with the frontier technology and a … are already familiar with frontier technology and therefore do not need to attract foreign investment to innovate, so …