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Innovations, technological specialisation and economic growth in the EU

Authors
Disciplines
  • Economics

Abstract

The paper analyses the effects of innovations, technological specialisation and technology diffusion on economic growth and convergence of the EU countries from 1969 to 1998. The empirical analysis is based on a panel data model, which enables us to assess the impacts of these three factors as well as of the usual production factors on long-term economic growth, and to calculate their partial contributions to β- and σ-convergence of labour productivities within the EU. The results show that besides capital accumulation, transferable technical knowledge is a driving force of growth for catching-up EU countries, while it is the level of Ricardian technological specialisation for advanced EU countries. Copyright Springer-Verlag Berlin Heidelberg 2004

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