The Dynamics of Technical Progress in Some Developing and Developed Countries

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Author(s): Weshah A. Razzak (Massey University PN, New Zealand), Belkacem Laabas (Arab Planning Institute, Kuwait)and El Mostafa Bentour (Arab Planning Institute, Kuwait)
Copyright: 2016
Pages: 23
Source title: Handbook of Research on Comparative Economic Development Perspectives on Europe and the MENA Region
Source Author(s)/Editor(s): M. Mustafa Erdoğdu (Marmara University, Turkey)and Bryan Christiansen (PryMarke, LLC, USA)
DOI: 10.4018/978-1-4666-9548-1.ch009

Keywords: Business & Management / Business Science Reference / Economics & Economic Theory / Economics and Economic Theory

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Abstract

We calibrate a semi-endogenous growth model to study the transitional dynamic and the properties of balanced growth paths of technological progress. In the model, long-run growth arises from global discoveries of new ideas, which depend on population growth. The transitional dynamic consists of the growth rates of capital intensity, labor, educational attainment (human capital), and research and ideas in excess of world population growth. Most of the growth in technical progress in a large number of developed and developing countries is accounted for by transitional dynamics.

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