Asymmetric Growth and Institutions in an Interdependent World
@article{Acemoglu2017AsymmetricGA, title={Asymmetric Growth and Institutions in an Interdependent World}, author={D. Acemoglu and J. Robinson and T. Verdier}, journal={Journal of Political Economy}, year={2017}, volume={125}, pages={1245 - 1305} }
We present a model of technologically interconnected countries that benefit and potentially contribute to advances in the world technology frontier. Greater inequality between successful and unsuccessful entrepreneurs increases entrepreneurial effort and a country’s contribution to that frontier. Under plausible assumptions, the world equilibrium is asymmetric, involving different economic institutions and technology levels for different countries. Some countries become technology leaders and… CONTINUE READING
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