International Knowledge Spillovers and Long-Run Productivity Growth

다국어 초록 (Multilingual Abstract)

This paper argues about a negative relationship between the degree of knowledge spillover and the long-run productivity growth rate. An increase in knowledge spillovers narrows the productivity gap between the leader and the follower country, which decelerates the productivity growth in both countries. The two countries converge to a long-run equilibrium with a smaller productivity gap and the same lower growth rate. The follower country's more openness to imports has a positive growth effect, the extent of which decreases with the increase of import-induced knowledge spillovers.

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