Barriers to technology adoption and development

S. L. Parente, E. C. Prescott

Research output: Contribution to journalArticle

473 Scopus citations

Abstract

We propose a theory of economic development in which technology adoption and barriers to such adoptions are the focus. The size of these barriers differs across countries and time. The larger these barriers, the greater the investment a firm must make to adopt a more advanced technology. The model is calibrated to the US balanced growth observations and the postwar Japanese development miracle. For this calibrated structure we find that the disparity in technology adoption barriers needed to account for the huge observed income disparity across countries is not implausibly large. -Authors

Original languageEnglish (US)
Pages (from-to)298-321
Number of pages24
JournalJournal of Political Economy
Volume102
Issue number2
DOIs
StatePublished - Jan 1 1994
Externally publishedYes

ASJC Scopus subject areas

  • Economics and Econometrics

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