Publication:
New Product Technology, Accumulation, and Growth

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dc.contributor.authorKhan, Faruk A.
dc.date.accessioned2012-06-21T22:01:25Z
dc.date.available2012-06-21T22:01:25Z
dc.date.issued2006-02
dc.description.abstractThis paper asks whether new technological capacity for producing and exporting additional products provides incentives for greater capital accumulation, without being fully reflected in a higher rate of total factor productivity (TFP) growth. Using a highly disaggregated data set of each country's trade flows into the United States, the author constructs a direct and independent measure of technological improvements for each country over time based on the number of new product varieties exported to the United States. The author shows, in a panel data setting, that acquiring the technological capacity for producing new products stimulates more rapid capital accumulation in developing countries, even after holding fixed the rate of TFP growth. His findings provide evidence against the alternative view that technological improvements are essentially unimportant: a view based on the findings of Young (1995) and others that instances of spectacular economic growth have been associated with unspectacular rates of TFP growth. The author provides a model to show how an expansion in the technological capacity for producing additional products can lead to more rapid factor accumulation, without necessarily improving measured TFP. His findings suggest that while rapid accumulation of physical and human capital may have characterized the East Asian growth experience, these gains were stimulated by stellar improvements in technological capacity.en
dc.identifierhttp://documents.worldbank.org/curated/en/2006/02/6596718/new-product-technology-accumulation-growth
dc.identifier.doi10.1596/1813-9450-3846
dc.identifier.urihttps://hdl.handle.net/10986/8739
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper; No. 3846
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectABSOLUTE ADVANTAGE
dc.subjectBASE YEAR
dc.subjectBENCHMARK
dc.subjectCAPITAL ACCUMULATION
dc.subjectCAPITAL GROWTH
dc.subjectCAPITAL STOCK
dc.subjectCAPITAL STOCK GROWTH
dc.subjectCOMMODITIES
dc.subjectCONSTANT PRICES
dc.subjectCONSUMERS
dc.subjectCOST OF CAPITAL
dc.subjectCOUNTRY EXPERIENCES
dc.subjectCOUNTRY SIZE
dc.subjectCOUNTRY VARIATION
dc.subjectDATA SET
dc.subjectDEVELOPING COUNTRIES
dc.subjectDIMINISHING RETURNS
dc.subjectDISCOUNT RATE
dc.subjectDOMESTIC MARKET
dc.subjectECONOMIC GROWTH
dc.subjectELASTICITY
dc.subjectELASTICITY OF SUBSTITUTION
dc.subjectEMPIRICAL WORK
dc.subjectEQUAL WEIGHT
dc.subjectEQUILIBRIUM
dc.subjectEXOGENOUS FACTORS
dc.subjectEXPENDITURE
dc.subjectEXPORTS
dc.subjectFACTOR ACCUMULATION
dc.subjectFACTOR ENDOWMENTS
dc.subjectFACTORS OF PRODUCTION
dc.subjectFIRST YEAR
dc.subjectGROWTH ACCOUNTING
dc.subjectGROWTH EPISODES
dc.subjectGROWTH LITERATURE
dc.subjectGROWTH PROCESS
dc.subjectGROWTH RATE
dc.subjectGROWTH RATES
dc.subjectHETEROSKEDASTICITY
dc.subjectHIGH GROWTH
dc.subjectHUMAN CAPITAL
dc.subjectINCOME DISTRIBUTION
dc.subjectINITIAL STEADY-STATE EQUILIBRIUM
dc.subjectINTERNATIONAL TRADE
dc.subjectINVESTMENT RATES
dc.subjectLEVEL OF CAPITAL
dc.subjectNATIONAL INCOME
dc.subjectNEGATIVE COEFFICIENT
dc.subjectOPTIMIZATION
dc.subjectPOLICY MEASURES
dc.subjectPOLICY RESEARCH
dc.subjectPOLITICAL INSTABILITY
dc.subjectPOSITIVE EFFECT
dc.subjectPOSITIVE IMPACT
dc.subjectPRODUCT QUALITY
dc.subjectPRODUCTION FUNCTION
dc.subjectPRODUCTIVITY GROWTH
dc.subjectRAPID GROWTH
dc.subjectRATES OF RETURN
dc.subjectRETURN TO CAPITAL
dc.subjectSPREAD
dc.subjectSTATE EQUILIBRIUM
dc.subjectSTOCKS
dc.subjectTAX INCENTIVES
dc.subjectTECHNOLOGICAL PROGRESS
dc.subjectTFP
dc.subjectTOTAL FACTOR PRODUCTIVITY
dc.subjectUTILITY FUNCTION
dc.subjectWAGES
dc.subjectWORLD MARKET
dc.titleNew Product Technology, Accumulation, and Growthen
dspace.entity.typePublication
okr.crossref.titleNew Product Technology, Accumulation, And Growth
okr.date.doiregistration2025-04-10T10:44:08.738443Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2006/02/6596718/new-product-technology-accumulation-growth
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticePoverty
okr.globalpracticeFinance and Markets
okr.guid447831468331267352
okr.identifier.doi10.1596/1813-9450-3846
okr.identifier.externaldocumentum000016406_20060214124305
okr.identifier.internaldocumentum6596718
okr.identifier.reportWPS3846
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2006/02/14/000016406_20060214124305/Rendered/PDF/wps3846.pdfen
okr.topicEconomic Theory and Research
okr.topicMacroeconomics and Economic Growth::Investment and Investment Climate
okr.topicMacroeconomics and Economic Growth::Markets and Market Access
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicPoverty Reduction::Inequality
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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