A multi-country non-linear dynamical model for the study of European growth based on technology and business services

► We present a continuous time panel data growth model to study technology and business services. ► We perform a theoretic and econometric analysis on a nonlinear differential system. ► We study the countries’ eigen-system. ► We study the dynamic proprieties of the steady state. In this paper we stu...

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Bibliographic Details
Published in:Structural change and economic dynamics 2013-06, Vol.25, p.173-187
Main Authors: Maggi, Bernardo, Muro, Daniel
Format: Article
Language:English
Subjects:
Business services
Continuous time econometrics
Growth
Stability
Technology
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Summary:► We present a continuous time panel data growth model to study technology and business services. ► We perform a theoretic and econometric analysis on a nonlinear differential system. ► We study the countries’ eigen-system. ► We study the dynamic proprieties of the steady state. In this paper we study a model for endogenous growth based on technology diffusion across European countries with respect to the major foreign partners. To that aim we disentangle the dynamics of such a problem by considering the single contribution to growth of each country, arising from every other individual country and for every strategic variable of the model. Among those, business services play a leading role for the link supported between innovations and production. Moreover technology growth itself fosters the off-shoring process of business services. Our calculations are an outcome of a program we settled for a continuous time estimation which is, in its nature, suitable for the study of the dynamic systems.
ISSN:0954-349X
1873-6017
DOI:10.1016/j.strueco.2012.02.002