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dc.contributor.authorNordås, Hildegunn Kyvik
dc.date.accessioned2008-03-03T13:00:31Z
dc.date.accessioned2017-03-29T09:12:29Z
dc.date.available2008-03-03T13:00:31Z
dc.date.available2017-03-29T09:12:29Z
dc.date.issued1997
dc.identifier.issn0804-3639
dc.identifier.urihttp://hdl.handle.net/11250/2435849
dc.description.abstractThis paper introduces endogenous adoption costs for productive assets in a Ramsey type growth model with international capital flows. There are two c1asses of productive assets: owner-specific and location-specific. Adoption costs are an increasing function of the level of technology embodied in the investor's owner-specific assets and a dec1ining function of the host country's location-specific assets. In this setting the return to capital is low in capital-poor countries. Consequently, they receive small amounts of foreign investments. Further, even though capital flows from North are spread evenly across industries in the South, the relative importance of high-technology industries is small in terms of output.
dc.language.isoeng
dc.publisherChr. Michelsen Institute
dc.relation.ispartofseriesCMI Working paper
dc.relation.ispartofseriesWP 1997: 18
dc.subjectInternational capital flows
dc.subjectEconomic growth
dc.subjectIndustrial structure
dc.titleSome reasons why capital does not flow from rich to poor countries
dc.typeWorking paper


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