On the mechanism of catching up

We draw upon the experiences of Japan and the Asian NIEs, the economies with the longest records of sustained rapid growth. This study then explains the observed patterns of growth with a control theoretical model. With imitation costly, and the benefit of imitative effort rising with technical capa...

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Bibliographic Details
Published inEuropean economic review Vol. 38; no. 3-4; pp. 952 - 963
Main Authors Lau, Man-lui, Wan, Henry
Format Journal Article
LanguageEnglish
Published Amsterdam Elsevier B.V 01.04.1994
Elsevier
North Holland Publishing Company, etc
Elsevier Sequoia S.A
SeriesEuropean Economic Review
Subjects
Catching up
Economic development
Economic growth
Economic models
Endogenous growth
International trade
Japan
Newly industrializing countries
NICs
Studies
Technology transfer
Asia
Japan
Catching up
Endogenous growth
O41
Technology transfer
O19
O33
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Summary:We draw upon the experiences of Japan and the Asian NIEs, the economies with the longest records of sustained rapid growth. This study then explains the observed patterns of growth with a control theoretical model. With imitation costly, and the benefit of imitative effort rising with technical capability but declining with the reduction of technology backlog, the poorest economies would allow the income gap to open further, but middle income economies would temporarily grow faster than the developed economies, through a first stage of trend acceleration and then a stage of deceleration. Evidence suggests that trade is one of the necessary but insufficient conditions for such a catching up process.
Bibliography:ObjectType-Article-2
SourceType-Scholarly Journals-1
ObjectType-Feature-1
content type line 23
ISSN:0014-2921
1873-572X
DOI:10.1016/0014-2921(94)90131-7