Technological assimilation and divergence in times of crisis

We study an endogenous stochastic growth model whose dynamic evolution is determined by an adaptive learning process defining the accumulation of technological knowledge within countries. Both the assimilation of technological knowledge and the arrival rate of innovations depend on the technological...

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Bibliographic Details
Published in:Technological and economic development of economy 2016-03, Vol.22 (2), p.254-273
Main Authors: Álvarez, Isabel, Di Caprio, Debora, Santos-Arteaga, Francisco Javier
Format: Article
Language:English
Subjects:
Assimilation
Baltic states
Dynamic tests
economic crisis
Economics
European Union
Evolution
Learning
Mathematical models
national innovation system
Stagnation
stochastic growth
technological development
technology assimilation
Unions
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Summary:We study an endogenous stochastic growth model whose dynamic evolution is determined by an adaptive learning process defining the accumulation of technological knowledge within countries. Both the assimilation of technological knowledge and the arrival rate of innovations depend on the technological development level of countries. We illustrate how heterogeneous levels of technological development provide laggard countries with insufficient innovation incentives, leading to divergences in total factor productivity and their technological stagnation. The model is simulated numerically using data from the current Innovation Union Scoreboard where the main expected growth patterns of the Baltic States are compared to those of the reference innovators within the European Union area.
ISSN:2029-4913
2029-4921
DOI:10.3846/20294913.2015.1033663