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 the light of models of structural change and technological diffusion.
|Data di pubblicazione:||2007|
|Titolo:||Nonlinear Economic Growth: Some Theory and Cross-country Evidence|
|Autori:||LAVEZZI AM; FIASCHI D|
|Tipologia:||Articolo su rivista|
|Citazione:||LAVEZZI AM, & FIASCHI D (2007). Nonlinear Economic Growth: Some Theory and Cross-country Evidence. JOURNAL OF DEVELOPMENT ECONOMICS, 84, 271-290.|
|Appare nelle tipologie:||01 - Articolo su rivista|