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Workers, Machines, and Economic Growth*

Workers, Machines, and Economic Growth* This paper analyzes a model of economic growth, with technological innovations that reduce labor requirements but raise capital requirements. The paper has two main results. The first is that such technological innovations are not everywhere adopted, but only in countries with high productivity. The second result is that technology adoption significantly amplifies differences in productivity between countries. This paper can, therefore, add to our understanding of large and persistent international differences in output per capita. The model also helps to explain other growth phenomena, like divergence or periods of rapid growth. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Quarterly Journal of Economics Oxford University Press

Workers, Machines, and Economic Growth*

The Quarterly Journal of Economics , Volume 113 (4) – Nov 1, 1998

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References (29)

Publisher
Oxford University Press
Copyright
© Published by Oxford University Press.
Subject
Articles
ISSN
0033-5533
eISSN
1531-4650
DOI
10.1162/003355398555847
Publisher site
See Article on Publisher Site

Abstract

This paper analyzes a model of economic growth, with technological innovations that reduce labor requirements but raise capital requirements. The paper has two main results. The first is that such technological innovations are not everywhere adopted, but only in countries with high productivity. The second result is that technology adoption significantly amplifies differences in productivity between countries. This paper can, therefore, add to our understanding of large and persistent international differences in output per capita. The model also helps to explain other growth phenomena, like divergence or periods of rapid growth.

Journal

The Quarterly Journal of EconomicsOxford University Press

Published: Nov 1, 1998

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