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We present a multi-country theory of economic growth in which countries are connected by a network of mutual knowledge … knowledge throughout the world explains a period of increasing world inequality after the take-off of the forerunners of the … industrial revolution, followed by decreasing relative inequality. Knowledge diffusion through a Small World network explains the …
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Income differences arise from many sources. While some kinds of inequality, caused by effort differences, might be associated with faster economic growth, other kinds, arising from unequal opportunities for investment, might be detrimental to economic progress. We construct two new metadata...
Persistent link: https://www.econbiz.de/10010364975
Theoretical models of growth reveal that either exogenous or endogenous, technology is the main driving force behind the long-run economic growth. Furthermore, in the endogenous growth framework, diffusion of technology is the basic mechanism of per capita income convergence among countries....
Persistent link: https://www.econbiz.de/10010251655
We present a multi-country theory of economic growth in which countries are connected by a network of mutual knowledge … country depends on its connections to the rest of the world and on the human capital of the countries it is exchanging … knowledge with. We show how the diffusion of knowledge through the world explains the evolution of global income inequality. It …
Persistent link: https://www.econbiz.de/10010253459
We present a multi-country theory of economic growth in which countries are connected by a network of mutual knowledge … country depends on its connections to the rest of the world and on the human capital of the countries it is exchanging … knowledge with. We show how the diffusion of knowledge through the world explains the evolution of global income inequality. It …
Persistent link: https://www.econbiz.de/10010255056
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