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AA00260492-19980002-0009.pdf
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Title |
Title |
STOCHASTIC LEARNING BY DOING IN NEW GROWTH THEORY
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SENGUPTA, Jati K.
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Department of Economics, University of California
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Keio Economic Society, Keio University
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1998
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Keio economic studies
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35
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2
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1998
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9
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35
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Abstract |
Modeling the learning process in new growth theory involves an understanding of the stochastic sources implicit in the diffusion process of modern technology and its spillover across the global trade. Stochasticity of this diffusion process and its impact on instability are discussed here in a theoretical setup. The empirical relevance of this type of analysis is also discussed in relation to the rapid growth episodes of newly industrializing countries of Southeast Asia. Various aspects of the stochastic learning process as they affect economic growth are discussed and their economic implications analyzed both theoretically and empirically.
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