Suppose that new technical knowledge arrives in the developed world and later diffuses to the developing world.
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Suppose that new technical knowledge arrives in the developed world and later diffuses to the developing world. Countries which lag behind more in the world income hierarchy would then have access to a greater pool of new (yet unadopted) ideas. Would this allow such countries to grow faster than their more developed counterparts (who, after all, have to invest resources in creating the new knowledge)? Is this a route to convergence? Discuss.
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The diffusion of new technical knowledge from developed to developing countries can indeed provide opportunities for faster growth and potential convergence Countries that lag behind in the income hie...View the full answer
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