Aghion, Philippe; Comin, Diego; Howitt, Peter - Institut for Miljø og Erhvervsøkonomi, Syddansk … - 2006
, growth results from innovations that allow local sectors to catch up with the frontier technology. In relatively poor … must be adapted. In such a country, local saving matters for innovation, and therefore growth, because it allows the … innovation project, so local saving does not matter for growth. In our empirical exploration we show that lagged savings is …