Nonlinear Economic Growth: Some Theory and Cross-country Evidence

Andrea Mario Lavezzi, Davide Fiaschi, Andrea Mario Lavezzi

Risultato della ricerca: Articlepeer review

26 Citazioni (Scopus)

Abstract

This paper aims to test the existence of different growth regimes, that is of different relationships between growth rate and income level. We propose a simple nonlinear growth model and test its empirical implications by estimating Markov transition matrices and stochastic kernels. We show that growth is indeed nonlinear: a first phase of slow or zero growth is followed by a take-off and, finally, by a phase of acceleration.We discuss the relevance of these results with respect to the issue of convergence and reversibility of development, in thelight of models of structural change and technological diffusion.
Lingua originaleEnglish
pagine (da-a)271-290
RivistaJOURNAL OF DEVELOPMENT ECONOMICS
Volume84
Stato di pubblicazionePublished - 2007

All Science Journal Classification (ASJC) codes

  • Development
  • Economics and Econometrics

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