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R&D. Implementation and stagnation: a shumpeterian theory of convergence clubs
(Centro de Investigación y Docencia Económicas, División de Economía, 2005)
We construct a multi-country Schumpeterian growth model in which technological change can occur either through research and development or through implementation. R&D requires a threshold level of human capital that depends ...
The effect of financial development on convergence: theory and evidence
(Centro de Investigación y Docencia Económicas, División de Economía, 2005)
We introduce imperfect creditor protection in a multi-country version of Schumpeterian growth theory with technology transfer. The theory predicts that the growth rate of any country with more than some critical level of ...
Technological innovation, implementation and stagnation: convergence clubs in the open world economy
(Centro de Investigación y Docencia Económicas, División de Economía, 2001)
We construct a multi-country Schumpeterian growth model in which technological change can occur either through research and development or through implementation. R&D requires a threshold level of human capital that depends ...