Catch-Up and Leapfrog Between The USA and Japan

摘要: The growth process for a technological leader is different from that of follower. While followers can grow through imitation and capital deepening, must undertake original research. This suggests as the gap between follower narrows, more formal R&D possibly face slower overall rate. paper examines these ideas by discussing some simple models catch-up convergence then applying them to relative experiences US Japanese manufacturing. We construct measures total factor productivity eleven manufacturing industries test whether smaller leads growth, takes over engine Japan approaches frontier. Our results suggest have been growing similar rates since mid-1970s, slowdown attributable exhaustion possibilities. Furthermore, faster than before our cast doubt on much cross-section literature assumes technology parameters across countries.