productivity catch-up. Evidence shows that countries with higher productivity growth rates export capital while countries with … lower productivity growth rates receive positive capital inflows. This is contradictory to the predictions of the …, our calibrated Schumpeterian growth model also predicts a positive correlation between capital inflows and productivity …

This paper proposes a theory for the gradual evolution of knowledge diffusion and growth over the very long run. A … Great Divergence, the failure of less developed countries to attract capital from abroad, and a productivity slowdown in …