{
  "title": "From Autarky to Integration: Imitation, Foreign Borrowing, and Growth",
  "publication": "IMF Working Papers, September 1, 1998",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/30/from-autarky-to-integration-imitation-foreign-borrowing-and-growth-2756",
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  "summary": "The effects on growth of the integration of an autarkic country into the world economy are analyzed, focusing on the differing roles of imitation and innovation in human capital accumulation.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Analyzes effects on growth when an autarkic country integrates into the world economy.\n- Focuses on differing roles of imitation and innovation in human capital accumulation.\n- Describes a transition where the country initially concentrates on imitation of foreign knowledge and, as it approaches the knowledge frontier, innovation plays a greater role.\n- Finds that late developers catch up with the rest of the world more rapidly than early developers because of a relatively large imitation opportunity.\n- Concludes that restrictions on foreign borrowing reduce the speed of adjustment to the steady state and lower growth and welfare for the country that imposes them."
    },
    {
      "heading": "Key findings",
      "content": "- The country initially concentrates on imitation of foreign knowledge; subsequently, as it approaches the knowledge frontier, innovation plays a greater role.\n- Late developers catch up with the rest of the world more rapidly than early developers, reflecting the relatively large imitation opportunity available to them.\n- Restrictions on foreign borrowing reduce the speed of adjustment to the steady state and lower growth and welfare for the country that imposes them."
    },
    {
      "heading": "Policy implications and scenarios",
      "content": "- Policies that facilitate knowledge imitation can accelerate catch-up growth for late developers.\n- As countries approach the knowledge frontier, policies that promote innovation become increasingly important.\n- Restrictions on foreign borrowing are associated with slower adjustment to steady state and lower growth and welfare for the restricting country.\n\n---\n\n Content in this bundle\n\n- From Autarky to Integration Imitation, Foreign Borrowing, and Growth - WP/98/140\n  - From Autarky to Integration Imitation, Foreign Borrowing, and Growth - WP/98/140 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - From Autarky to Integration Imitation, Foreign Borrowing, and Growth - WP/98/140 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/30/from-autarky-to-integration-imitation-foreign-borrowing-and-growth-2756"
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    "Published: September 1, 1998",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451928907.001",
    "Analyzes effects on growth when an autarkic country integrates into the world economy.",
    "Focuses on differing roles of imitation and innovation in human capital accumulation.",
    "Describes a transition where the country initially concentrates on imitation of foreign knowledge and, as it approaches the knowledge frontier, innovation plays a greater role.",
    "Finds that late developers catch up with the rest of the world more rapidly than early developers because of a relatively large imitation opportunity.",
    "Concludes that restrictions on foreign borrowing reduce the speed of adjustment to the steady state and lower growth and welfare for the country that imposes them.",
    "The country initially concentrates on imitation of foreign knowledge; subsequently, as it approaches the knowledge frontier, innovation plays a greater role.",
    "Late developers catch up with the rest of the world more rapidly than early developers, reflecting the relatively large imitation opportunity available to them.",
    "Restrictions on foreign borrowing reduce the speed of adjustment to the steady state and lower growth and welfare for the country that imposes them.",
    "Policies that facilitate knowledge imitation can accelerate catch-up growth for late developers.",
    "As countries approach the knowledge frontier, policies that promote innovation become increasingly important.",
    "Restrictions on foreign borrowing are associated with slower adjustment to steady state and lower growth and welfare for the restricting country.",
    "**From Autarky to Integration Imitation, Foreign Borrowing, and Growth - WP/98/140**"
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