Essays On International Productivity Growth And Technological Diffusion
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The Sources of Economic Growth
Author: Richard R. Nelson
language: en
Publisher: Harvard University Press
Release Date: 2000
Technological advance is the key driving force behind economic growth, argues Richard Nelson. Drawing on a deep knowledge of economic and technological history as well as the tools of economic analysis, he exposes the intimate connections among government policies, science-based universities, and the growth of technology.
How Does Foreign Direct Investment Affect Economic Growth
Author: Mr.Eduardo Borensztein
language: en
Publisher: International Monetary Fund
Release Date: 1994-09-01
We test the effect of foreign direct investment (FDI) on economic growth in a cross-country regression framework, utilizing data on FDI flows from industrial countries to 69 developing countries over the last two decades. Our results suggest that FDI is an important vehicle for the transfer of technology, contributing relatively more to growth than domestic investment. However, the higher productivity of FDI holds only when the host country has a minimum threshold stock of human capital. In addition, FDI has the effect of increasing total investment in the economy more than one for one, which suggests the predominance of complementarity effects with domestic firms.