The Dynamics of International Differentiation: A Multi-country Evolutionary Model
- 1 January 1994
- journal article
- Published by Oxford University Press (OUP) in Industrial and Corporate Change
- Vol. 3 (1) , 225-242
- https://doi.org/10.1093/icc/3.1.225
Abstract
The paper presents some (admittedly preliminary) results on evolutionary modeling of open-economies interactions. The dynamics is microfounded in a multiplicity of boundedly rational agents who imperfectly learn how to innovate in environments characterized by notionally unlimited opportunities. Micro discoveries—it is shown—can generate persistent system-level effects. Despite the absence in the model of any institutional specificity of individual countries, processes of innovative exploration and imitation yield international divergence, (less often) convergence, catching-up, and falling-behind.Keywords
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