Print version ISSN 0185-1667
CATELA, Eva Yamila da Silva and GONCALVES, Flávio de Oliveira. Technological dynamics and the international market of high-tech products. Inv. Econ [online]. 2009, vol.68, n.270, pp. 97-130. ISSN 0185-1667.
This paper discusses the existence of high tech export clubs in the world economy by analyzing the distribution of technology-intensive exports in 123 countries during the period 1985-2004. The findings are compatible with the conclusions of the seminal work of Quah (1996), showing that in spite of the high probability of maintenance of the status quo, there exists a small probability of migration between groups. The irreversibility of the technological trajectories is discussed. The paper contributes to the convergence literature in two ways. First it provides estimations of the parameter values leading to club convergence in the world economy. Secondly, it describes how club members interact, within and between groups, in terms of trade and technology flows.
Keywords : technological convergence; finite mixtures; Markov chains; club convergence.