Must-Read: : Speeding-up and Missed Opportunities: Evidence: "The bar I set for a model is that it should yield answers we believe...
...to questions that matter. For... growth, the... questions... are:1. Speeding-up: Why has the rate of growth at the technological frontier been increasing over time? 2. Missed Opportunities: Why have so many countries that start from far behind the frontier failed to achieve rapid catch-up growth?... In response to a nudge from Joshua Gans... I’ll recapitulate the evidence that convinced me... these are the two big questions... I’ll explain why the conceptual framework that I used in the 1990 paper, one that relies on partially-excludable nonrival goods, is the bare minimum for answering them...
http://paulromer.net/speeding-up-and-missed-opportunities-evidence/
