Product cycles and growth cycles

• 成果类型: Article
• 署名作者: Iwaisako, Tatsuro; Tanaka, Hitoshi
• 署名单位: University of Osaka; Hokkai Gakuen University
• 刊物名称: JOURNAL OF INTERNATIONAL ECONOMICS
• ISSN/ISSBN: 0022-1996
• DOI: 10.1016/j.jinteco.2016.11.004
• 发表日期: 2017
• 页码: 22-40
• 关键词: Product cycles; imitation; Endogenous cycles; Intellectual property rights protection

摘要

This paper theoretically shows that shifts in production from developed countries (the North) to developing countries (the South) through imitation by the South can cause endogenous growth cycles. On the equilibrium path, the world economy continues to grow, but innovation, imitation, and the growth rate may permanently fluctuate. To show this, we construct a two-country overlapping generations model where the North develops new goods and the South imitates these goods endogenously. A key assumption is international knowledge spillover in the imitation process. The model implies that growth cycles tend to emerge when imitation in the South is more active. (C) 2016 The Authors. Published by Elsevier B.V. This is an open access article under the CC BY-NC-ND license