Easterly, William; King, Robert G; Levine, Ross; … - C.E.P.R. Discussion Papers - 1994
This paper describes a simple model of technology adoption which combines the two engines of growth emphasized in the … adoption process: accumulating human capital simply means learning how to incorporate a new intermediate good into the … production process. Since the adoption costs are proportional to the labour force, the model does not display the counterfactual …