2 edition of Distance to frontier, selection, and economic growth found in the catalog.
by Massachusetts Institute of Technology, Dept. of Economics in Cambridge, MA
Written in English
We analyze an economy where managers engage both in the adoption of technologies from the world frontier and in innovation activities. The selection of high-skill managers is more important for innovation activities. As the economy approaches the technology frontier, selection becomes more important. As a result, countries at early stages of development pursue an investment-based strategy, with long-term relationships, high average size and age of firms, large average investments, but little selection. Closer to the world technology frontier, there is a switch to an innovation-based strategy with short-term relationships, younger firms, less investment and better selection of managers. We show that relatively backward economies may switch out of the investment-based strategy too soon, so certain economic institutions and policies, such as limits on product market competition or investment subsidies, that encourage the investment-based strategy may be beneficial. However, societies that cannot switch out of the investment based strategy fail to converge to the world technology frontier. Non-convergence traps are more likely when policies and institutions are endogenized, enabling beneficiaries of existing policies to bribe politicians to maintain these policies. Keywords: appropriate institutions, convergence, economic growth, innovation, imitation, political economy of growth, selection, technical change, traps. JEL Classifications: O31, O33, O38, O40, L16.
|Statement||[by] Daron Acemoglu, Philippe Aghion [and] Fabrizio Zilibotti|
|Series||Working paper series / Massachusetts Institute of Technology, Dept. of Economics -- working paper 04-03, Working paper (Massachusetts Institute of Technology. Dept. of Economics) -- no. 04-03.|
|Contributions||Aghion, Philippe, Zilibotti, Fabrizio, Massachusetts Institute of Technology. Dept. of Economics|
|The Physical Object|
|Pagination||48,  p. :|
|Number of Pages||48|
The Frontier and Economic Development: A Brief Overview As noted by Findlay and Lundahl (, p. 70), the analysis of frontier-based development "has been used extensively by historians and geographers for a wide variety of times and places, but has been neglected by economists." The exceptions are the "staples thesis",Cited by: between the distance to the frontier and economic development. In particular, it proposes that the LDD is positive and smaller than the maximum distance to frontier. Additionally, the theory predicts that countries that are located farther than the LDD, at the MDD, should be more developed, i.e. the non-monotonicity should be U-shaped.
Measuring Economic Growth and Its Relation with Production Possibility Frontier and Returns to Scale International Journal of Economics and Research, Vol. 7, No. 6, p. , International Journal of Economics and Research, Vol. 8, No. 2, p. 16, Author: Merter Mert. Abstract. This paper studies the differences in the R&D and innovation behaviour of high-growth firms for 16 EU countries. The results confirm that R&D and innovation are important characteristics for high-growth firms in countries close to the technological frontier, but not for high-growth firms in countries further away from the technological by:
The growth crisis of Germany: A blueprint of the developed economies. Berthold, Norbert, () Distance to Frontier, Selection, and Economic Growth. Acemoglu, Daron, () The growth crisis of Germany: a blueprint of the developed economies. Once China nears the technological frontier, I think they are going to have great difficulty. For example: Acemoglu, D., P. Aghion and F. Zilibotti Distance to Frontier, Selection, and Economic Growth, Journal of the European Economic Association 4: Delete.
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“zwu” — /1/24 — page 39 — #3 Acemoglu, Aghion, & Zilibotti Distance to Frontier and Growth 39 A likely equilibrium sequence is for an economy to start with an investment- based strategy, relying on long-term relationships between entrepreneurs (or managers) and ﬁrms (or ﬁnanciers) in order to maximize investment.
DistancetoFrontier,Selection,and EconomicGrowth* DaronAcemoglutPhilippeAghion-^andFabrizioZilibotti^ June25, Abstract. As the economy approaches the frontier, selection becomes more important.
Countries at early stages of development pursue an investment-based strategy, which relies on existing firms and managers to maximize investment but sacrifices by: Distance to Frontier, Selection, and Economic Growth Daron Acemoglu, Philippe Aghion, Fabrizio Zilibotti.
NBER Working Paper No. Issued in July NBER Program(s):Economic Fluctuations and Growth We analyze an economy where managers engage both in the adaptation of technologies from the world Distance to frontier and in innovation selection.
Distance to Frontier, Selection, and Economic Growth Article in Journal of the European Economic Association 4(1) February with Reads How we measure 'reads'. Daron Acemoglu & Philippe Aghion & Fabrizio Zilibotti, "Distance to Frontier, Selection, and Economic Growth," Journal of the European Economic Association, MIT Press, vol.
4(1), pages 37. COVID Resources. Reliable information about the coronavirus (COVID) is available from the World Health Organization (current situation, international travel).Numerous and frequently-updated resource results are available from this ’s WebJunction has pulled together information and resources to assist library staff as they consider how to handle coronavirus.
Distance to Frontier, Selection, and Economic Growth Daron Acemoglu, Philippe Aghion and Fabrizio Zilibotti NBER Working Paper No. July JEL No. O31, O33, O38, O40, L16 ABSTRACT We analyze an economy where managers engage both in the adaptation of technologies from the world frontier and in innovation activities.
DISTANCE TO FRONTIER, SELECTION, AND ECONOMIC GROWTH Daron Acemoglu Fabrizio Zilibotti Massachusetts Institute of Technology Institute for International Economic TO. Studies Philippe TO. Aghion *. Harvard University Abstract We analyze an economy where firms undertake both innovation and adoption of technologies from the world.
and Zilibotti (), henceforth AAZ, on appropriate institutions and economic growth. AAZ analyze an economy where ﬁrms undertake both innovation and adoption of technologies from the world technology frontier and study how the selection of high-skill managers depends on the country’s distance to the techno-logical frontier.
Distance to frontier, selection, and economic growth by Daron Acemoglu; 1 edition; First published in ; Subjects: Econometric models, Technological innovations, Effect of technological innovations on, Productivity accounting, Economic development, Capital investments, Skilled labor, Economic aspects, Accessible book.
Distance to Frontier, Selection, and Economic Growth. View Distance to frontier, selection, and economic growth. Journal of the European Economic Association 4(1): Abstract We analyze an economy where firms undertake both innovation and adoption of technologies from the world technology frontier.
The selection of high-skill. Aghion P, Acemoglu D, Zilibotti F. Distance to Frontier, Selection, and Economic Growth. Journal of the European Economic Association. Cited by: We examine the contribution of human capital to economy-wide technological improvements through the two channels of innovation and imitation.
We develop a theoretical model showing that skilled labor has a higher growth-enhancing effect closer to the technological frontier under the reasonable assumption that innovation is a relatively more skill-intensive activity than by: distance to the technological frontier.
These two Chapters are considered as the basis of this thesis. The main part can be found in Chapter 4. Chapter 4 contains the topic about the effect of inequality and redistribution on growth with respect to the distance to the technological frontier. As a last point, a conclusion can be found in.
This research explores the effects of distance to the pre-industrial technological frontiers on comparative economic development in the course of human history. It establishes theoretically and empirically that distance to the frontier had a persistent non-monotonic effect on a country’s pre-industrial economic development.
In particular, advancing a novel measure of the travel time to the Cited by: 5. “Growth, distance to frontier and composition of human capital”, Journal of Economic Growth, 11, Aghion, Boustan, Hoxby, Vandenbussche (), “Exploiting states’ mistakes to identify the causal effect of higher education on growth”, mimeo Harvard.
These papers do File Size: 1MB. 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 : Fabrizio Zilibotti.
We examine human capital's contribution to economy-wide technological progress through two channels -- imitation and innovation -- innovation being more skilled-intensive than innovation. We develop a growth model considering an endogenous ability-driven skill acquisition decision of an individual.
We show that skilled labor is growth enhancing in the ``imitation-innovation" regime and the. The Last Frontier. Kingsley Moghalu, Deputy Governor of the Central Bank of Nigeria, defined “the last frontier” as being a twofold vision of the continent characterizing both internal and international economic dynamics “from the perspective of the expansion of the world economy to new poles of economic growth and transformation.
has also meant a high absolute growth compared with previous times: the annual growth in Western Europe over the last 50 years has been about three times as large as in the years from to Distance to Technology Frontier and European Economic Growth Fa b r i z i o zilibotti.Institutional causes, macroeconomic symptoms: volatility, crises and growth D Acemoglu, S Johnson, J Robinson, Y Thaicharoen Journal of monetary economics 50 (1),Distance to Frontier, Selection, and Economic Growth Daron Acemoglu Philippe Aghion Fabrizio Zilibotti Journal of the European Economic Association, 4(1), pp.
March Economic Backwardness in Political Perspective Daron Acemoglu James A. Robinson American Political Science Reviewpp. February