As opposed to the Veblen-Gerschenkron catching-up hypothesis, the recent literature allows for technological divergence in backward economies. We extend a non-linear adoption function to include openness and interact with capital accumulation in an intertemporal general equilibrium framework. The threshold gap necessary to catch-up is endogenously determined by the economy’s absorptive capacity...

The growth rate of total factor productivity seems to have increased recently, at least in the United States. Higher US productivity growth may justify higher stock market valuations than in the past and thus herald an emerging New Economy. However, the size of the estimated growth rate of total factor productivity depends on an assumption about the factor-augmenting properties of technological...

I n the modern competitive world, Research and Development (R&D) and its overflowing technologies are the main basis of innovation, which in turn, can be determined as an important source of economic growth. Investing in research activities can help firms with different technological levels, especially high-tech industries to improve their productivity. This paper aims to analyze the...

Under the concept of metafrontier, technology gap ratio is alternatively interpreted as potential energy efficiency. Combined with Malmquist index framework and Shephard energy distance function, we then develop a metafrontier Malmquist energy productivity index to analyze the total-factor energy productivity growth with four specific components: groupfrontier efficiency change index, groupfron...