Innovation, diffusion, and trade: Theory and measurement

• 成果类型: Article
• 署名作者: Santacreu, Ana Maria
• 署名单位: Federal Reserve System - USA; Federal Reserve Bank - St. Louis
• 刊物名称: JOURNAL OF MONETARY ECONOMICS
• ISSN/ISSBN: 0304-3932
• DOI: 10.1016/j.jmoneco.2015.06.008
• 发表日期: 2015
• 页码: 1-20
• 关键词: innovation; technology adoption; Trade in varieties; Economic growth

摘要

What are the sources of economic growth? This paper presents a multicountry growth model of innovation and the adoption of foreign technologies through trade. The costs of both domestic innovation and adopting foreign innovations are estimated using data on innovation, output and trade. A decomposition of the sources of growth shows that technology adoption accounts for about 65% of embodied growth in developing countries. Developed countries grow mainly through domestic innovation, which explains 75% of their embodied growth. Counterfactuals show how growth rates and levels of income would change if countries faced the same barriers to adoption and research productivity. (C) 2015 Elsevier B.V. All rights reserved.