Technology Diffusion and Postwar Growth

Technology Diffusion and Postwar Growth

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In the aftermath of World War II, the world's economies exhibited very different rates of economic recovery. The authors provide evidence that those countries that caught up the most with the U.S. in the postwar period are those that also saw an acceleration in the speed of adoption of new technologies. This acceleration is correlated with the incidence of U.S. economic aid and technical assistance in the same period. The authors interpret this as supportive of the interpretation that technology transfers from the U.S. to Western European countries and Japan were an important factor in driving growth in these recipient countries during the postwar decades. Charts and tables.Theoretical models of financial frictions and information problems imply that lenders will make fewer non- ... Finance Association the 2006 Western Economic Association Meeting, the 2007 Swiss Society for Financial Market Research Meetinganbsp;...

Title:Technology Diffusion and Postwar Growth
Author:Diego Comin, Bart Hobijn
Publisher:DIANE Publishing - 2010


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