Technology and Epidemics
Evidence from historical and epidemiological literatures show that epidemics tend to spread in the population according to a logistic pattern. We conjecture that the impact of new technologies on output follows a pattern of spread not unlike that of typical epidemics. After reaching a critical mass,...
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| Format: | eBook |
| Language: | English |
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Washington, D.C.
International Monetary Fund
1999
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| Series: | IMF Working Papers
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| Collection: | International Monetary Fund - Collection details see MPG.ReNa |
| Summary: | Evidence from historical and epidemiological literatures show that epidemics tend to spread in the population according to a logistic pattern. We conjecture that the impact of new technologies on output follows a pattern of spread not unlike that of typical epidemics. After reaching a critical mass, rates of growth will accelerate until the marginal benefits of technology are fully utilized. We estimate spline functions using a GMM dynamic panel methodology for 79 countries. We use imports of machinery and equipment as a fraction of gross domestic product as a proxy for the process of technological adoption. Results confirm our hypothesis |
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| Physical Description: | 33 pages |
| ISBN: | 9781451854800 |