NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Technological Diffusion, Conditional Convergence, and Economic Growth

David E. Bloom, David Canning, Jaypee Sevilla

NBER Working Paper No. 8713
Issued in January 2002
NBER Program(s):   EFG   PR

Technological diffusion implies a form of 'conditional convergence' as lagging countries catch up with technological leaders. We find strong evidence of technological diffusion but not full convergence; differences in total factor productivity (TFP) persist even in the long run due to differences in geography and institutions. TFP differentials explain a large part of cross-country income differences in our model; our estimates of the rate of return to capital, labor and schooling are completely consistent with micro-economic studies, implying the absence of externalities in aggregate production.

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Document Object Identifier (DOI): 10.3386/w8713

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