TY - JOUR
T1 - Nonlinear Economic Growth: Some Theory and Cross-country Evidence
AU - Lavezzi, Andrea Mario
AU - Fiaschi, Davide
AU - Lavezzi, Andrea Mario
PY - 2007
Y1 - 2007
N2 - 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.
AB - 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.
KW - Convergence
KW - Distribution dynamics
KW - Nonlinear growth
KW - Structural change
KW - Technological diffusion
KW - Convergence
KW - Distribution dynamics
KW - Nonlinear growth
KW - Structural change
KW - Technological diffusion
UR - http://hdl.handle.net/10447/15101
M3 - Article
VL - 84
SP - 271
EP - 290
JO - JOURNAL OF DEVELOPMENT ECONOMICS
JF - JOURNAL OF DEVELOPMENT ECONOMICS
SN - 0304-3878
ER -