Demonstrate how it differs from absolute convergence

Reference no: EM131144859

Leapfrogging

a. Discuss the concept of leapfrogging and demonstrate how it differs from absolute convergence.

b. Does the Ramsey model of chapter 2 (augmented to allow for random shocks to the technology) preclude leapfrogging? Is this model inconsistent with the observation that an economy that is initially lagging in technological sophistication becomes the leader at a later date?

Reference no: EM131144859

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