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The B.E. Journal of Macroeconomics

Editor-in-Chief: Abraham, Arpad / Cavalcanti, Tiago

Ed. by Carceles-Poveda , Eva / Debortoli, Davide / Kambourov, Gueorgui / Lambertini, Luisa / Pavoni, Nicola / Ruhl, Kim

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What Does the Solow Model Tell Us about Economic Growth?

Toshihiro Okada1

1School of Economics, Kwansei Gakuin University,

Citation Information: Contributions in Macroeconomics. Volume 6, Issue 1, Pages 1–30, ISSN (Online) 1534-6005, DOI: 10.2202/1534-6005.1228, April 2006

Publication History

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This paper presents, within a framework of the Solow model, evidence that there are significant differences in convergence patterns across subsamples. It shows that although OECD countries and the countries converging to their steady states from above follow a pattern of conditional convergence, those converging to their steady states from below do not. This result is best explained by the idea that technology diffusion has a large effect mainly on the countries converging to their steady states from below.

Keywords: convergence; Solow model; technology diffusion

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