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Contribution Details

Type Journal Article
Scope Discipline-based scholarship
Title Economic growth through the development process
Organization Unit
Authors
  • Fabrizio Zilibotti
Item Subtype Original Work
Refereed Yes
Status Published in final form
Language
  • English
Journal Title CESifo Economic Studies
Publisher Oxford University Press
Geographical Reach international
ISSN 1610-241X
Volume 54
Number 3
Page Range 325 - 357
Date 2008
Abstract Text In this paper, I discuss some recent research in the area of economic growth and development emphasizing the endogenous dynamics of policies and organizational forms in a world characterized by credit-market and labor-market imperfections. I present a simple model of technological convergence featuring an endogenous evolution of contractual arrangements. The key assumption is that economic growth is associated with investments as well as with the adoption and imitation of existing technologies in economies lying far from the technology frontier. In contrast, growth is increasingly driven by innovation as economies approach the technological frontier. The theory predicts that contractual arrangements evolve and adapt spontaneously to the changing needs of technological progress. However, this evolution is neither necessary nor serendipitous. Economies that fail to introduce economic reforms as they advance may become stuck in non-convergence traps. I discuss a number of empirical applications, including the wave of reforms of industrial policy in India in the 1980s and 1990s.
Digital Object Identifier 10.1093/cesifo/ifn020
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Additional Information This is a pre-copy-editing, author-produced PDF of an article accepted for publication in CESifo Economics Studies following peer review. The definitive publisher-authenticated version CESifo Economic Studies, 54(3):325-357 is available online at: http://dx.doi.org/10.1093/cesifo/ifn020