This preview shows pages 1–2. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: Follower countries a. Can grow faster be adopting existing technologies i. I.E Africa never had phone lines so they just use cellular 7. Supply factors a. Changes in physical and technical agents of production 8. Demand factor a. When people purchase the output go goods/s 9. Efficiency factor a. Economic efficiency b. 10. Labor productivity 11. Labor-force participation rate 12. Growth accounting 13. Infrastructure 14. Human capital 15. Economics of scale 16. Information technology 17. Start-up firms 18. Increasing returns 19. Network effects 20. Leaning by doing...
View Full Document
- Spring '11